Radhe Developers India to raise Rs 500 cr

Radhe Developers India today said it will raise funds to the tune of Rs 500 crore by various funds raising routes from domestic and international markets.

The board of directors have approved to raise Rs 500 crore by private placement of shares with buyers and from Global Depository Receipts (GDRs), Radhe Developers India said in a filing to the Bombay Stock Exchange.

The proposal is subjected to the regulatory sanctions, approvals and consents, the filing said.

Further, the board has approved to undertake new residential or commercial projects in all cities of India and to enter into joint venture or takeover of any residential or commercial projects, the filing added.

 

To initiate steps for development of logistics park to be developed on 100 acre land at Ahmedabad, it said.