February 2011
M T W T F S S
« Jan   Mar »
 123456
78910111213
14151617181920
21222324252627
28  

Contact us

Ansal may raise up to Rs 350 cr from PE deals

Realty firm Ansal Properties & Infrastructure plans to raise up to Rs 350 crore within this year from private equity players by diluting its stake in various projects to fund its ongoing construction activities. According to sources, Ansal API is in talks with 4-5 private equity firms to raise $50-75 million by diluting stakes in 3-4 townships, being developed in North India. “The company is aggressively pursuing its development works and is in talks with various PE firms… It is almost in the final stages of negotiations with Red Fort Capital (RFC) for its Gurgaon township — Esencia,” a source said. RFC is likely to pump in over Rs 150 crore in the project for “some” stake, he said. When contacted, Ansal API CEO and Joint Managing Director Anil Kumar declined to comment on the development. The Gurgaon township is being developed in 112 acres of land with about 3 million sq ft of saleable area. [...]

Kingdom of Dreams operator to sell 20% stake, raise Rs 200 cr

The Great India Nautanki Company (GINC), which runs the mega entertainment project 'Kingdom of Dreams' in Gurgaon, is looking to offload 20% stake to raise up to Rs 200 crore to fund future expansion. Besides, the company is also considering an initial public offer by 2013 to raise more funds. It is currently holding talks with high networth individuals (HNIs) and private equity investors for the stake sale. GINC, a joint venture of Wizcraft International Entertainment and Apra Group of Companies, was set up to promote Indian culture and performing arts with a focus on Bollywood. “We are looking at equity dilution of 20% to create funds for which we are talking to a few people and expect to raise anywhere between Rs 150 crore to Rs 200 crore,” GINC, Chairman and Managing Director Anumod Sharma told PTI. [...]