With reference to the news item appeared in Financial Express dated June 12, 2015 regarding Unitechs plans to raise Rs 200 Crores to part finance its ongoing housing projects. In this regard, Unitech has Clarified that the Company and its subsidiaries, on an ongoing basis, raise funds from various banks and other financial institutions to meet its financing needs for development of projects and for various corporate purposes. With a view to augment the company’s finances for meeting its working capital requirements to accelerate the execution of its ongoing projects, company is in discussions with some financiers. Further they wish to state that these loans or financing are entered at various times and are ordinary course of business and accordingly not required to be disclosed under Clause 36 of the Listing Agreement.
The above information is a part of company’s filings submitted to BSE.
