The proposed fundraise will be in the form of equity and the money will be used to build mid-income homes in the southern markets of Bangalore, Chennai, and Hyderabad, and to enter new markets.
Arvind SmartSpaces and HDFC CAPITAL ADVISORS conclude the first platform successfully equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
Real estate developer Eldeco Group has acquired multiple land parcels in Greater Noida, Sonepat, and Ludhiana for Rs 230 crore. The company plans to launch projects worth Rs 5,000 crore in the next year as part of a partnership with HDFC Capital Affordable Real Estate Fund 3. The acquisitions include an 8.5-acre plot in Gurgaon Sector 80, a 36,000-square-meter plot in Greater Noida West, and land parcels in Sonepat and Ludhiana.
The acquisitions are part of a Rs 475-crore platform Eldeco has set up with HDFC Capital Affordable Real Estate Fund 3 (H-CARE 3), a fund managed by HDFC Capital, to develop multiple residential projects.
Signature Global IPO | The issue comprises a fresh issuance of shares worth Rs 603 crore by the company, and an offer-for-sale (OFS) of Rs 127 crore worth shares by International Finance Corporation (IFC).