Hiranandani Constructions, the developer of the world's tallest residential building, plans to raise as much as $750 million selling shares next month in the biggest offering by an Indian developer on the London Stock Exchange, bankers with knowledge of the plan said. | |
| Hiranandani plans to raise between $500 million and $750 million selling shares in a property investment firm on the London Stock Exchange's Alternative Investment Market, the two bankers said. |
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| HSBC Holdings and Bear Stearns will arrange the offering, the bankers said. |
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| The sale will give overseas investors access to India's growing real-estate market, with the $775 billion economy poised to expand 8 per cent for the fourth straight year. |
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| Mumbai-based Hiranandani joins Indian developers including K Raheja Corp and West Pioneer Properties Ltd in turning to London's AIM, where rules for selling shares are less stringent than other exchanges. |
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