HDIL raises Rs 1,688 cr from Fidelity, Blackstone

Housing Development & Infrastructure Ltd (HDIL), a Mumbai-based property developer, has raised Rs 1,688.40 crore from global investors, such as Blackstone and Fidelity, in a qualified institutional placement (QIP) of its shares.

In the last three months, Unitech (which raised funds through QIP twice), Indiabulls Real Estate and Sobha Developers, among others, have raised Rs 7,600 crore.