Sunteck Realty has received approval to raise funds not more than Rs 2,000 crore in one or more tranches either by way of QIP, FPO, ADR, GDR, rights issue, debt issue, preferential issue, FCCB etc. The Board of Directors of the Company at its meeting held on May 02, 2019 has approved the same.
Out of Rs 2,000 crore, the company is planning to raise Rs 1500 crore through Non-Convertible Debt by way of private placement in one or more tranches. Besides, the company will raise Rs 500 crore by way of equity shares and/or any other securities convertible into equity shares in one or more tranches.
Sunteck Realty is a Mumbai-based real estate development company, catering to the premium ultra-luxury and luxury residential segment.