KOLTE PATIL

Introduction
Real estate development company. Developed 25 projects Ongoing 28 ISO 9001 certified and received the Government of Maharashtras First Prize for Best IT Infrastructure in the State of Maharashtra

Objects of the Issue:

1. Finance land acquisition; 2. Finance the construction and development costs for some of the proposed projects; 3. Fund expenditures for general corporate purposes.

Issue Detail
Issue Open: Nov 19, 2007 - Nov 22, 2007 Issue Type: 100% Book Built Issue IPO Issue Size: 19,000,836 Equity Shares of Rs. 10 Issue Size: Rs. 275.51 Crore Face Value: Rs. 10 Per Equity Share Issue Price: Rs. 125 - Rs. 145 Per Equity Share Market Lot: 40 Shares Minimum Order Quantity: 40 Shares Listing At: BSE, NSE

Error in IPO
The company has left a case in its DRHP. After getting the RHP, The company provided an addendum The company has also stated that the price band of Rs 125-145 is not primarily based on this project.

SEBI ACTION
Kolte-Patil Developers Limited has received a notice from SEBI about allegations made by Mr. C.V.L. Sastry with respect to the project Whispering Meadows II and the related disclosures in the Red Herring Prospectus.

Further SEBI ACTION

Kolte-Patil Developers Limited has received a notice from SEBI to allow investors to withdraw their application by December 4

Reaction from investor

The grey market premium of Kolte Patil IPO came down after this news hit the markets. However, not many investors are likely to withdraw their applications due to this sudden development.

THANKS