05.02.2015 - GIC of Singapore invests in Jain Housing
Jain Housing and Constructions has raised Rs240 crore through debt from Singapore’s sovereign wealth fund GIC Pte Ltd. The company has issued 2,200 non-convertible debentures of Rs10 lakh each to GIC. The issue price was Rs9.89 lakh, at a coupon rate of 15.25 per cent a year. These debentures, redeemable within the next 48 months from the date of allotment, have also been listed on the BSE, said Sandeep Mehta, MD, Jain Housing. The amount was raised to fund three of its proposed premium residential projects – Jains Inseli Park with 808 apartments, Jains Pebble Brook I with 620 apartments and Jains Pebble Brook II with 356 apartments – on the city’s IT corridor Old Mahabalipuram Road...............................................Full Article: Source
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