Unitech to raise Rs 1.3k cr via private placement
The Economic Times, June 27, 2009, Page 6
New Delhi: The country’s second largest realty firm, Unitech Ltd, began the process of raising a little over Rs 1,300 crore through private placement of equity to fund projects and service debt on Friday, sources said. The company, which had raised Rs 1,621 crore in the second half of April at Rs 38.50 per share through the qualified institutional placement (QIP) route, on Friday launched the second round at Rs 81 per share and the process is expected to be completed today itself, sources said. The Unitech spokesperson could not be contacted for comments. Unitech’s shares rose by 0.37% to close at Rs 82.35 on the Bombay Stock Exchange on Friday. After the first round of QIP, the promoters stake had come down to 51% from about 64%. Unitech has also raised Rs 1,000 crore by outright sale of two hotels.
The Economic Times, June 27, 2009, Page 6
New Delhi: The country’s second largest realty firm, Unitech Ltd, began the process of raising a little over Rs 1,300 crore through private placement of equity to fund projects and service debt on Friday, sources said. The company, which had raised Rs 1,621 crore in the second half of April at Rs 38.50 per share through the qualified institutional placement (QIP) route, on Friday launched the second round at Rs 81 per share and the process is expected to be completed today itself, sources said. The Unitech spokesperson could not be contacted for comments. Unitech’s shares rose by 0.37% to close at Rs 82.35 on the Bombay Stock Exchange on Friday. After the first round of QIP, the promoters stake had come down to 51% from about 64%. Unitech has also raised Rs 1,000 crore by outright sale of two hotels.
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