Tag: Crore

IBFSL releases 3% equity of Akruti City

Indiabulls Financial Services (IBFSL) on Tuesday said that it has released over 3% equity of Mumbai-based developer Akruti City as the real estate firm paid back a major part of its loan amount taken from IBFCL. Akruti had taken Rs 200 crore from IBFSL by pledging 6% of its equity for working capital requirement. IBFSL […]

Unitech sounds out PEs to sell hotel properties

Unitech, the country’s second-largest listed real estate company, has put on the block all its six hotel projects under construction to reduce its capital expenditure and raise cash to fund its other ongoing projects. The company is in talks with a few private equity investors to sell all its six properties, being constructed at Gurgaon […]

IRB Infrastructure Developers Takes Road Building

Driving on the country’s first expressway connecting Mumbai with Pune is always a pleasure, so much so that people have started shuttling between the two cities daily. All this courtesy the swanky road’s meticulous upkeep by a company that was once a family-owned business doing road-building works for local bodies. At the helm of it […]

JP Morgan Chase Buys 33% In Alok Infra’s SPV

Global financial giant JP Morgan Chase is investing Rs 130 crore for 33% stake in an SPV of realty firm Alok Infrastructure, a wholly-owned subsidiary of Mumbai-based textile maker and retailer Alok Industries, according to banking sources. Alok Infrastructure’s SPV, which is receiving the JP Morgan funding, will develop a realty project at a prime […]

German Bank Invests Rs 607 Crore In Trikona Projects

German investment bank SachsenFonds (SF) has bought stake in four realty projects of London Stock Exchange listed, India-focussed realty fund Trikona Trinity Capital for Rs 607 crore ($150 million). Trikona has made returns of 115% in the transaction. In the Delhi-based Uppal IT park, SF raised its stake from 8% to 33%. In the Hyderabad-based […]