Nitesh Housing Developers is in talks with private equity investors to raise around Rs 3.50bn, report was quoted as saying.
Reports said that HDFC Asset Management Company, the portfolio manager of HDFC Mutual Fund is planning to sell its entire stake in Nitesh Housing Developers, a subsidiary of Bangalore-based Nitesh Estates.
The fund house had acquired 10.1% stake in the subsidiary of the real estate developer for Rs 68 crore in 2009.
Nitesh Housing Developers owns four projects in Bangalore - Hyde Park, Columbus Square, Napa Valley and Fisher Island - spread across 10 million sq ft.
Nitesh Housing Developers is in talks with private equity investors to raise around Rs 3.50bn, report was quoted as saying.
Reports said that HDFC Asset Management Company, the portfolio manager of HDFC Mutual Fund is planning to sell its entire stake in Nitesh Housing Developers, a subsidiary of Bangalore-based Nitesh Estates.
The fund house had acquired 10.1% stake in the subsidiary of the real estate developer for Rs 68 crore in 2009.
Nitesh Housing Developers owns four projects in Bangalore - Hyde Park, Columbus Square, Napa Valley and Fisher Island - spread across 10 million sq ft.
Nitesh Housing Developers is in talks with private equity investors to raise around Rs 3.50bn, report was quoted as saying.
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