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India’s Unitech mops up $575 mln via private placement; buyers not known

Posted on 29 June 2009

From Vccircle.com: Real estate major Unitech has just raised $ 575 million (Rs 2,800 crore) through placement of shares with overseas investors at Rs 81 per share. This comes on the back of almost 9 times oversubscription for the mid sized IPO of Mahindra Holidays & Resorts which closed on Friday.

These two fund raising activities show that liquidity flows into India have not witnessed any setback as feared in some sections of the market who feel there is a deluge of qualified institutional placements (QIPs), more than what can be absorbed……..Full Article: Source


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Laxman - who has written 28515 posts on Opalesque Real Estate Briefing.


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