US private equity fund picks 50% stake in IT park
US-based private equity fund, New Vernon Private equity on Monday said it has picked 50 per cent stake in Intelligent Infrastructure Ltd at a price of Rs 30 crore.
By PTI |
KOLKATA: US-based private equity fund, New Vernon Private equity on Monday said it has picked 50 per cent stake in Intelligent Infrastructure Ltd at a price of Rs 30 crore.
"We have taken 50 per cent stake in Intelligent Infrastructure Ltd, which is contructing a six lakh square feet IT park in sector V in Salt lake," New Vernon principal India operation Tariq Vaidya said.
The IT park costing Rs 100 crore is been promoted by real estate developers Sharchi and Sureka groups on land offered by Bikram Dasgupta of Globsyn Technologies.
The first phase of the project is expected to be completed by March 2007 and the entire project by September 2007.
Private equity funds are taking interest in Indian projects and also looking at the eastern region.
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