Portman picks 26% in Tata Housing project

Pays Rs 62 cr in the first private equity deal for Tata Sons-owned real estate company

US-based investor and developer Portman Holdings has picked 26 per cent stake in the luxury housing project of Tata Housing in Bangalore for Rs 62 crore.

This is the first PE deal for Tata Housing, the realty development company owned by Tata Sons.

Tata Housing has raised equity in the project 'Promont', which is valued at Rs 240 crore, from Portman Holdings.

YES Bank was the financial advisor on this transaction.