Business Daily from THE HINDU group of publications
Tuesday, Jul 15, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Tuesday, Jul 15, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate
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Venture Capital Foreign firms to pick up stake in Eldeco Infra for Rs 196 cr Moumita Bakshi Chatterjee New Delhi, July 14 AMIF RE Investments, Mauritius, and some other foreign companies are picking up stake in Eldeco Infrastructure and Properties Ltd for about Rs 196 crore. The proposal, which came up for discussion at the FIPB’s meeting on June 24, has already received Government’s go-ahead. The proposal involved acquisition of shares from one or more existing shareholders of the company, as well as subscribing to fresh equity shares. The company was also seeking to acquire the status of holding company to make downstream investments in projects specific special purpose companies in compliance with conditions prescribed under the Press Note 9 (1999 series). When contacted, a senior company official declined to comment on the deal citing confidentiality clause. The company is engaged in the development of townships, housing, built-up infrastructure and construction development projects, and well as infrastructure development projects such as special economic zones, hotels and hospitals. AMIF RE Investment XIII Ltd, Mauritius, was incorporated on April 2008 with focus on investment activity including to venture capital and private equity investments whether directly, indirectly through any special purpose vehicle; to carry on operations as an investment holding company and to acquire, invest in and hold securities of all kinds issued by various Governments. More Stories on : Venture Capital | Real Estate & Construction
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