Suncity plans to raise up to Rs 500 cr via pvt equity
Real estate firm Suncity Projects is planning to raise up to Rs 500 crore through private equity for development of its IT SEZ project at Gurgaon.
We are in talks with various private equity firms to raise Rs 350-500 crore for our IT SEZ project in Gurgaon, Suncity Projects Director Ashok Bansal said.
The IT SEZ spread over 167 acre has been notified and construction would begin next month, he said.
The project cost to develop the SEZ would be between Rs 3,000 and 4,000 crore, Bansal said.
The company could dilute up to 49 per cent stake in the SEZ project to raise the funds, he said, but refused to divulge the name of the firms it was in talks with.
More : business-standard.com