PARSVNATH RAISES RS 75 CR

Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} Delhi-basedreal estate company Parsvnath Developers (PDL)has raised Rs 75 crore by selling 50% stake in a housing project to US-basedprivate equity firm Sun Apollo. Sun will invest Rs 75 crore in the project’sspecial purpose vehicle (SPV) that will develop Parsvnath’sresidential property in Gurgaon. Withthis deal, Parsvnath has raised Rs 360 crore in the last six months throughprivate placement of shares and stake sale in its various projects. Such fundraising exercise is meant to cut its debt amounting to Rs 1,600 crore by atleast half by the end of this fiscal. Courtesy:-ET dt:- 12/12/2009  

Was this helpful? 0 0 Comments

You're reading PARSVNATH RAISES RS 75 CR.