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opportunities emerging in the market. With the Indian securities market regulator SEBI allowing real estate
mutual funds (REMFs) in India, equity investors will have an exit option available to them. All these factors
will contribute in making the Indian real estate market more organized and structured, thus providing better
investment opportunities.
(II) Business Summary
We are a real estate development and project management company, focused on premium residential and
commercial developments concentrated majorly in and around Mumbai. We are engaged in the development
and construction of residential, office space, retail and mixed use projects by integrating various requirements
and specific demands of customers, we seek to create “build to suit” developments, which we believe will not
only enhance the desirability of our projects but will also provide our customers efficient space, which will cater
to their current and future needs. While our focus is on residential and commercial projects, we have a
diversified portfolio of projects covering key segments of the real estate market, which target the upper end of
the respective income or market segment.
We undertake real estate development projects on property development basis and project management basis.
Our Property Development includes activities starting from the conceptualization stage to completion stage.
Project Management includes understanding the need of customer, project planning and feasibility, Project
Assessment studies, Geological and Soil Investigation, Architectural / Engineering / Interior Designs,
Construction management, Build to Suit Solutions, etc. We believe that our in-house design and architectural
team has an in-depth understanding of “Global” building parameters and quality standards and “Local”
necessities and thereby offering “GLOCAL” architectural designs that combine local values with global quality
standards. We believe that we have the scalability required to undertake large developments.
Rodium Group:
After the Change of Management, Our Company, forms part of Rodium Group based in Mumbai, promoted by
Mr. Deepak Chheda, Mr. Harish Nisar, Mr. Rohit Dedhia and Mr. Shailesh Shah. Our Promoters have a track
record of developing innovative projects through emphasis on contemporary architecture, strong project
execution and quality construction in the real estate industry. Our Promoters have been developing real estate
projects since 1990, through various proprietorship firms, partnership firms and various project-specific entities.
From 2006, the business of prime real estate development was carried on under a partnership firm viz. M/s.
Rodium Properties. We continued the business of M/s. Rodium Properties, Partnership firm on going concern
basis with effect from April 1, 2010.
One of the key competitive strengths of our Group is a one-stop-build-to-suit solution provider i.e. to deliver a
project from its conceptualization stage to completion stage. This ensures that we are dependent only to a
limited extent on third party suppliers for key products and services required in the development and
construction of our projects. Further, it ensures that products and services required for development and
construction of a project meet our quality standards and are delivered in a timely manner.
Our total income as restated were Rs. 2,548.20 Lakhs and Rs. 317.16 lakhs for the year ended March 31, 2011
and March 31, 2010 respectively. Our net profit as restated were Rs. 386.85 Lakhs and Rs. 246.84 lakhs for the
year ended March 31, 2011 and March 31, 2010 respectively.
Competitive Strengths:
•
Experience of Our Promoters
•
Strong In-house Design and Architectural Capabilities
•
Emphasis on Quality Construction
•
Land Identification at Attractive Pricing and Strategic Locations
•
Good Relationships with Key Intermediaries
•
Strong and stable management team with proven ability
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Business Strategy:
•
Maintain High Standards of Quality and Increase Scale of Operations
•
Expand into new geographical areas
•
Continue our Focus on a Diversified Business Model
•
Flexible approach to project development
•
Marketing Strategy
For further details on the business of the Company, please refer to Section – V “About Our Company –
Business Overveiw” of this Draft Letter of Offer on Page no. 82.
39
(III) Issue Details in brief
Issue of 21,65,267 Equity Shares of Rs.10/- each for cash at a premium of Rs [*]/- per Equity Share to the
existing Equity Shareholders of our Company on Rights basis, aggregating to Rs. [*] lakhs.
Equity Shares proposed to be
issued by Our Company
21,65,267 Equity Shares on Rights basis
Rights Entitlement
2 (Two) Equity Shares for every 3 (Three) Equity Share held
Record Date
[*]
Issue Opening Date
[*]
Issue Closing Date
[*]
Issue Price per Equity Share
Rs.[*]/- per Equity Share
Equity Shares outstanding prior to
the Issue
32,47,900 Equity Shares
Equity Shares outstanding after the
Issue
54,13,167 Equity Shares
Use of Issue proceeds
Please see section entitled “Objects of the Issue” on Page No. 56
under section Particulars of the Issue of this Draft Letter of Offer
for information.
Terms of the Issue
For more information, see “Terms of Issue” on Page No. 198 under
section Offering Information of the Draft Letter of Offer
Terms of Payment
Amount payable per Rights Equity
Share (Rs.)
Face Value
Premium
Total
On Application
5.00
[*]
[*]
On Final Call
5.00
[*]
[*]
Total
10.00
[*]
[*]
* For details on the payment method see “Issue Procedure” on page no. 293 of this Draft Letter of Offer.
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