You are here: Home » Markets » News
Business Standard

Kolte-Patil rallies 7% as KKR to invest Rs 193 crore in Pune Township

KPIT is developing 'Life Republic' a 383-acre township located in Pune's IT hub, Hinjewadi

SI Reporter  |  Mumbai 

markets, stocks, sensex, nifty, bse, nse

Shares of rallied nearly 7% on Thursday after the company said that global investment firm will invest Rs 193 crore in its township at The stock rose as much as 6.67% to Rs 384 on the In a regulatory filing, Kolte Patil said has committed Rs 193 crore in its Kolte-Patil I-Ven Townships (Pune) Ltd (KPIT), which is a joint venture of Kolte-Patil and ICICI Venture Funds Management Company. KPIT is developing 'Life Republic' a 383-acre township located in Pune's IT hub, Hinjewadi. The JV will utilise the funds from this investment to attain financial closure, meeting working capital requirements and reducing cost of outstanding debt attributable to the development. The company's Group CEO Gopal Sarda said, "At Life Republic, we are developing a full-amenities township focused on Hinjewadi's digital economy workforce.

With our new partnership, we see this landmark project accelerating further to meet the rising aspirations of middle-income home buyers.

First Published: Thu, December 28 2017. 09:36 IST
RECOMMENDED FOR YOU