Wednesday, June 9, 2010

Unitech floats Rs 300-crore Mumbai redevelopment fund

Unitech floats Rs 300-crore Mumbai redevelopment fund

 

Unitech Group, which runs the country's second-largest developer, Unitech Ltd, launched a Rs 300-crore venture capital fund to raise funds for its slum redevelopment projects in Mumbai, a top group executive said.

Called Mumbai Redevelopment Fund I, the fund will have an initial target of Rs 200 crore and a greenshoe option of Rs 100 crore, the executive said. The group had promised a fixed coupon rate of eight per cent and overall returns of 20 per cent to investors, he said.

The fund, which was launched around two weeks ago, is expected to close within the next two months. When contacted, a Unitech spokesperson confirmed the launched.

The group was also likely to launch similar funds for Mumbai redevelopment projects, the executive said.

The fund was launched by the group's fund management arm Unitech Realty Investors (URI) and expected to invest initially in the five redevelopment projects in Mumbai. The fund has a minimum investment threshold of Rs 5 lakh.

 

Unitech Group, which runs the country's second-largest developer, Unitech Ltd, launched a Rs 300-crore venture capital fund to raise funds for its slum redevelopment projects in Mumbai, a top group executive said.

 

Called Mumbai Redevelopment Fund I, the fund will have an initial target of Rs 200 crore and a greenshoe option of Rs 100 crore, the executive said. The group had promised a fixed coupon rate of eight per cent and overall returns of 20-23 per cent to investors, he said. The fund, which was launched around two weeks ago, is expected to close by end of June months. When contacted, a Unitech spokesperson confirmed the launched.

 

The group was also likely to launch similar funds for Mumbai redevelopment projects, the executive said. The fund was launched by the group's fund management arm Unitech Realty Investors (URI) and expected to invest initially in the five redevelopment projects in Mumbai. The fund has a minimum investment threshold of Rs 5 lakh.

 

Product Note: http://latestinvestmentupdates.blogspot.com/2010/06/unitech-floats-rs-300-crore-mumbai.html

 

Read News Update on this Issue: http://latestinvestmentupdates.blogspot.com/2010/06/mumbai-redevelopment-fund-update.html

--
Safe Harbor:
The information contained and provided on this Website provides Investment advice for the education of investors. The posts are an information service only. Recommendations, opinions or suggestions are given with the understanding that readers acting on this information assume all risks involved. We do not assume any responsibility or liability resulting from the use of such information, judgment and opinions for Trading or Investment purposes.
 
You received this message because you are subscribed to the Google Groups "Investors Please Listen !" group.
To post to this group, send email to investorspleaselisten@googlegroups.com
To unsubscribe from this group, send email to
investorspleaselisten+unsubscribe@googlegroups.com For more options, visit this group at http://groups.google.com/group/investorspleaselisten?hl=en

No comments:

Life Insurance | Health Insurance | Auto Insurance


Investors Please Listen !

 
More than 100 kinds of Insurance products from more than
20 companies under one roof.



Call: 9818269396 
investorspleaselisten@in.com
www.investorspleaselisten.blogspot.com

 

 

Safe Harbor:

The information contained and provided on this Website provides Investment advice for the education of investors. The posts are an information service only. Recommendations, opinions or suggestions are given with the understanding that readers acting on this information assume all risks involved. We do not assume any responsibility or liability resulting from the use of such information, judgment and opinions for Trading or Investment purposes.
Powered by Olark
Advertising Learn to Invest