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November 28, 2007

Kolte-Patil IPO - Withdrawal option

Investors to the initial public offering have been given an exit option up to December 4, as directed by SEBI since the notice disputing the company's land reserves has been issued after the date of red herring prospectus. Kolte-Patil has issued an addendum to the RHP this week, disclosing the details of this litigation. The company has also stated that the price band of Rs 125-145 is not primarily based on this project.

Effect on valuation and other details available at

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