Sunday, December 10, 2006

Real Estate in India

VC Circle - Indian Venture Capital, Private Equity, M :: Yatra Capital Raises €105 Million From Euroenext; To Focus On Tier II III Cities

Yatra Capital Raises €105 Million From Euroenext; To Focus On Tier II III Cities
by Sahad on Mon 11 Dec 2006 00:47 IST | Permanent Link | Cosmos
Yatra Capital Ltd, an India-focussed real estate investment company, has raised €105 million from the Euronext exchange in Amsterdam. Yatra would be the first Indian real estate company to list in Euronext.
Yatra Capital, founded by ex-HSBC executive Ajoy Veer Kapoor, has investors like Morley Fund Management, Fortis Investments and Standard Life. Yatra plans to own and develop residential, commercial and retail properties in India. Its primary focus will be on tier II and tier III cities. It will also consider select tier I opportunities.
Saffron Capital Advisors, an asset management advisory firm dedicated to Indian real estate, will act as fund and asset manager to the company. The law firm Simmons Simmons team was an advisor to Yatra. ABN AMRO was involved as listing agent and Fairfax IS Plc was a placing agent.
It's not Yatra alone, there were other companies like Ishaan Real Estate who have raised finance abroad. Ishaan, for instance, recently raised $340 million from London's Alternative Investment Market. Hiranandani Constructions is planning a $500-$750 million float in AIM. Unitech also plans to rasie about $700 million from AIM. Bangalore's Embassy group is looking to do a floar in Singapore early next year.

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