Amrapali in funding talks with PE firms December 22, 2011 Realty firm Amrapali Group is in the process of raising about Rs 220 crore from private equity (PE) firms to fund the construction of two of its large residential projects in Noida. The Noida-based developer is raising Rs 100 crore from IL&FS Investment Managers Ltd for its 20-acre Princely Estate mid-segment apartment project. From JPMorgan Chase & Co, it is raising about Rs 120 crore for its 60-acre Silicon Valley project. JPMorgan had invested Rs 75 crore in the firm’s Zodiac project in Noida in 2010, reports Mint.
“Bank lending is a little difficult and time-consuming if you want a higher sum of capital, and then we have to look at alternative sources such as PE funds,” said Anil Sharma, chairman and managing director, Amrapali Group. “A single bank won’t lend a large sum and arranging a consortium of banks takes time.” Sharma said Amrapali is raising money primarily to complete the two Noida projects in time; the projects are due for delivery to buyers in 2013. “If you want to target completion on time, particularly for large projects, you need strong financial backing,” he said. On Thu, Dec 22, 2011 at 1:02 PM, monkk <[email protected]> wrote: > IL&FS Private Equity Invests Rs 230Cr In IL&FS Energy > Development<http://www.vccircle.com/500/news/ilfs-private-equity-invests-rs-230cr-in-ilfs-energy-development> > > *BY MADHAV A. CHANCHANI* > *The stake has been picked up by two funds – StanChart IL&FS Asia Infra > Growth Fund & IL&FS Infra Equity Fund I.* > * > * > * > * > * > * > * > * > * > * > > > > Two funds managed by IL&FS Investment Managers (IL&FS Private Equity), one > of India’s largest PE firms managing assets of $3.2 billion, have acquired > stake in IL&FS Energy Development Company Ltd – a firm engaged in the > operation and maintenance of power generation, transmission and > distribution projects. The stake has been picked up by Standard Chartered > IL&FS Asia Infrastructure Growth Fund Company Pte Ltd and IL&FS > Infrastructure Equity Fund I for Rs 230 crore. > > An IL&FS PE spokesperson declined to comment when contacted by VCCircle, > stating that the CEO & executive director Dr Archana Hingorani was > travelling. Amarchand & Mangaldas was the legal advisor on the transaction. > The deal was closed by October-end this year. > > Incidentally, this is not the first time when the private equity firm is > investing in a group company. Standard Chartered IL&FS Asia Infrastructure > Growth Fund has also invested in IL&FS Transportation Networks, which was > listed last year, with the PE firm’s investment at over 2x unrealised > gains<http://www.vccircle.com/500/news/ilfs-transportation-lists-at-premium> > at > one point. IL&FS Transportation is also backed by PE firms like Goldman > Sachs and Bessemer Venture Partners. > > IL&FS Energy Development, a subsidiary of IL&FS, plans to set up projects > with aggregate capacity of over 15,000 MW across conventional and > non-conventional energy space. The company plans to develop greenfield > projects and acquire substantial stake in existing operational assets. > > Two of its main projects include 726 MW Tripura gas power project along > with ONGC, which is expected to cost Rs 3,430 crore. Another is 3,600 MW > Cuddalore power project in Tamil Nadu, which is expected to cost Rs 15,000 > crore. The imported coal-based power project is coming along with a captive > port and a desalination plant. Another project in the pipeline includes > 4,000 MW Nana Layja power project in Gujarat. > > IL&FS Energy Development is also setting up biogas power projects in > Maharashtra and establishing wind farms aggregating to 1,005 MW across > seven states in a phased manner. Two sites in Rajasthan (38.4 MW) and Tamil > Nadu (12 MW) are operational since September 2010, with further projects > coming up in Rajasthan, Tamil Nadu and Madhya Pradesh. It also holds a > stake in Shalivahana Green Energy, which is developing clean energy > projects of 345 MW. > > > On Thu, Dec 8, 2011 at 4:24 PM, RAJESH DESAI <[email protected]> wrote: > >> >> >> Report atch. >> -- >> CA. Rajesh Desai >> >> > > > -- > > *Warm Regards, > ~ monkk ~* > > -- CA. Rajesh Desai -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
