Venture Intelligence Blog: Is Unitech for real?
Sanjay Chandra, Unitech's 34-year-old Managing Director, sums up the change: "Till a year ago, real estate was a totally ignored sector. We never used to get any investor meeting requests. Now, we have a full-fledged investor relations department since there are at least 30-40 requests per month, mostly from foreign institutional investors." Another issue that provided fillip to the sector was the high-decibel marketing of the abortive IPO of Unitech's competitor and peer in NCR, DLF. "Whenever there is a large public issue in a sector, there is a rub-off on other sector stocks as well," says S. Ramesh, coo, Kotak Investment Bank, who was involved with the now-postponed DLF initial public offer.
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