Search
Wednesday, April 7, 2010
The company plans to raise about Rs 500 crore (incl. green shoe option) from the market to fund its ongoing projects and future growth. It is executing the Ritz-Carlton in Bangalore and developing a million sq ft of retail space in Chennai. "Majority of the IPO amount is going to get deployed towards for Ritz-Carlton project in Bangalore and retail development. About Rs 86 crore debt is sitting on the Balance Sheet which we would like to repay and make the company debt-free," informs Vaidyanathan.
As for future, Nitesh already has its hands full with some of the most prestigious projects. Also, the residential, office and retail property market is looking good due to the economic recovery, and with the IPO funds in its kitty, Nitesh would be well-poised to take advantage of the upturn in the real estate market. ~
As for future, Nitesh already has its hands full with some of the most prestigious projects. Also, the residential, office and retail property market is looking good due to the economic recovery, and with the IPO funds in its kitty, Nitesh would be well-poised to take advantage of the upturn in the real estate market. ~
Labels: Powering Future Growth
0 Comments:
Subscribe to:
Post Comments (Atom)