HDFC Realty buys 33% in Ansal SPV

NEW DELHI: HDFC Realty Fund has acquired 33% stake in Ansal Properties and Infrastructure’s (APIL) special purpose vehicle (SPV). APIL had sold the stake in SPV for approximately Rs 20 crore through the issue of debentures at a premium of Rs 140. This SPV was created for developing an IT special economic zone (SEZ) at Greater Noida.

APIL has also got regulatory approvals for developing two more SEZs — one for engineering-based industries at Murthal in Haryana and a multi-product SEZ near Jaipur.

The 250-acre single-product SEZ at Murthal will be developed at a cost of Rs 800 crore.The 2,500-acre multi-product SEZ in Rajasthan would incur an investment of Rs 6,500 crore. It will host automobile & auto component industries, capital goods industries and agro & food processing industries among others.