After months of negotiations, an entity owned by Pune-based property developer Panchshil Realty and US-based private equity (PE) company Blackstone has bought a majority stake in Express Towers.
The company plans to raise Rs 750 crore; other realtors may follow.
After a long time, real estate companies could hit the fund-raising trail. The reason is improvement in investor sentiment.
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Chairman Anand Mahindra spoke to Business Standard on affordable housing.
The company is not holding plans for clarity on policy.
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Firms with low promoter holding may get to buy shares from secondary market.
Real estate firms like DLF, Prestige, Phoenix Mills to benefit.
Equity markets are currently difficult to gauge as the market has probably priced in a lot of things ahead of actual events.
Early last year, the company had said it aimed to reduce its debt, which stood over Rs 21,000 crore then, to Rs 10,000-11,000 crore (Rs 100-110 billion) through the sale of non-core assets and improved cash flows.
Having successfully implemented the 25 per cent free-float norm for private companies, the Securities and Exchange Board of India now wants the government to pare its holdings in public-sector undertakings to below 75 per cent.
Instead of being carried away by Friday's historic election verdict, savvy investors were seen taking money off the table, after the benchmark Sensex rallied about 1,500 points in intra-day trade.
Sensex gains 2.4%, Nifty crosses 7,000; investors feel exit polls have vindicated their stand
Oberoi Relaty expect 20-25 per cent premium for tis residential project.
Current FDI norms allow a foreign airline to hold up to 49 per cent in a domestic carrier.
In October 2012, Flipkart entered the menswear segment; later it launched a womenswear range
Move to improve transparency but make liquidity more difficult to come by
Local traders are evaluating other options rather in FDI.
The store launches same-day delivery for its site, though analysts say others have eroded its headstart in the brick and mortar format.
Could address the concerns over Companies Act provision on the issue
Consultants said the fact that Oberoi had no debt on its books and Kalpataru had low debt helped the two in the slow realty market.
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