By Accommodation Times (www.accommodationtimes.com)
As far as residential apartment rates are concerned home buyers are in surprise state. It is going harder and harder for realtors to raise funds from the primary market, thereby increasing liquidity woes. According to the study of SMC Global Securities reveals that approx 36companies those have decided to increase their funds with Rs.32K crore from the capital market either called off their plans or put on a hold them, whereas six of them are realty companies.
Research head of SMC Global Jaganndadham Thunuguntia revealed that “there are 28 companies has dropped their plan to raise funds from the capital market.”
The companies in real estate sector those have called off their plans such as Lodha Developers, Ambiance Real Estate, Kumar Urban Developers, Neptune developers, BPTP, Raheja Universal and Lavasa Corporation. Number of market analyst said that “due to the downturn in property market realtors are heading to the debt and private equity route for raising their funds. Now the private equity has become the vigilant for the market players, so it remains the only option for the sector players for raising funds.
Market analyst more predicted that upcoming years 2012 would be tougher than the current. It also said that, the last 30 IPOs only 3 of those were able to perform and all others were traded at a discount.