Ansal Properties mulls dilution of promoters' stake
Real estate developer Ansal Properties & Infrastructure (Ansal API) on Thursday said it would further dilute the promoters' stake in the company from the current level of 74 per cent to fund expansion.
By PTI |
MUMBAI: Real estate developer Ansal Properties & Infrastructure (Ansal API) on Thursday said it would further dilute the promoters' stake in the company from the current level of 74 per cent to fund expansion.
Ansal API Chairman Sushil Ansal said the company may revisit the capital market with a follow-on public offer (FPO) but refused to divulge much on the matter as of now.
The promoters could also off-load their stake in the company by offering equity to private entities or to Qualified Institutional Bidders (QIBs), he told reporters on the sidelines of a FICCI organised summit here.
Ansal said the company is currently working on property worth Rs 26,000 crore and its land bank position stood at 6,000 acres.
The company has recently approved setting up two Special Economic Zones (SEZs) one in Rajasthan at an investment of Rs 6,533 crore and another one in Haryana at an investment of Rs 800 crore.
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Ansal API is also planning to set up IT parks at Lucknow, Chandigarh, Panipat, Meerut, Jaipur, Jodhpur and Patiala.Start a SIP with as low as ₹500 with ET Money App!
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