Shipra Gr to raise $ 200 mn

Real estate developer Shipra Group today said it is in talks with private equity players to raise upto USD 200 million.

By PTI | Sep 28, 2007, 10.40 PM IST

MUMBAI: Real estate developer Shipra Group today said it is in talks with private equity players to raise upto USD 200 million.

"We are talking to lots of overseas private equity players to raise USD 200 million," Shipra Group Managing Director Mohit Singh told reporters.

Shipra Group is a Ghaziabad-headquartered company.

"In the next three months, we would have raised USD 125 million," he said. The funds raised would be used for the development of its four projects.

The funds are being raised from overseas investors because domestic players are "conservative", he said.

The company would not be going for initial public offering in the short-term and mid-term, he said.

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