Saturday, March 15, 2008

Rahejas to raise Rs.530 Cr. from PE funds

New Delhi based Rahejas plan to raise Rs.530 Cr. from PE funds against 26% equity in their upcoming Gurgaon based engineering SEZ.
MD Navin Raheja said the group was talking to Royal Group of Abu Dhabi, Ford Capital, Ascendas, Blackstone & Carlyle with E&Y as consultant. He said " Though the deal is not finalised we prefer Royal group because of their bigger projects, construction techniques, equipment & manpower"

The JV will be as an SPV to be listed later. The company plans to invest Rs 4,535 crore in the SEZ to be funded with a mix of equity, debt and internal accruals. It has plans to build country's tallest building here. Since haryana faces power shortage, the company is planning a 200MW captive powerplant and is in talks with Adani & Lanco.

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