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Rediff.com  » Business » Unitech arm raises Rs 4,137 cr

Unitech arm raises Rs 4,137 cr

By Nayantara Rai in New Delhi
December 21, 2006 10:44 IST
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The world's leading funds and financial institutions have invested in Unitech Corporate Parks Plc, the company that the Unitech Group floated last week at the London Alternative Investment Market.

The company had raised £360 million or Rs 4,137 crore to invest in the IT/ITeS related real estate development in India.

Investment banking sources said ABN-Amro was the largest investor with £34.92 million.

Other major investors were Rovida Asset Management (£28.08 million), George Soros promoted Soros Fund Management (£24.84 million), Fidelity International (£20.88 million) and HSBC Investment Management (£16.92 million).

United Corporate Parks' portfolio consisted of 197.5 acres in six IT parks. The parent company in September had disclosed that its total land bank in India stood at 10,400 acres.
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Nayantara Rai in New Delhi
Source: source
 

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