Sahara Prime City Ltd, the company planning India’s second-largest real estate initial public offering in more than two years, is in talks to raise as much as Rs 1,000 crore ($214 million) from private equity investors.
“Global funds are keen to invest in India,” Chief Executive Officer Sushanto Roy said in an interview in Mumbai today. He declined to say when the stakes may be sold. The Lucknow, India-based company plans to sell shares in the IPO in the first quarter of next year, according to Roy. Sahara, Emaar MGF Land Ltd and Lodha Developers Ltd are among developers that are seeking the regulator’s permission to raise more than Rs 12,600 crore.
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