Parsvnath Developers, a real-estate firm, plans to raise Rs 200 crore by offering stakes in its projects to private equity investors. It is in talks with PE funds like Red Fort Capital and SUN-Apollo.
The money is being raised to complete six of its projects, which are located in Delhi, Noida, Ghaziabad and Chandigarh. The money will also be used to repay its debt worth Rs 1,500 crore. With plans to cut its debt by Rs 520 crore in the next two years, the company had raised Rs 115 crore from Red Fort Capital last year to complete its luxury residential project La Tropicana in Delhi.
Contact: Parsvnath Developers. Tel: 011-4368 6600. Fax: 011-2331 5400. E-mail: mail@parsvnath.com Website: www.parsvnath.com
