MoneyWorks4Me

Peninsula Land to raise Rs 525 crore by selling NCDs: Report

25 Mar 2014 Evaluate

Peninsula Land is reportedly planning to raise Rs 525 crore by selling non-convertible debentures (NCDs) to complete acquisition of a defunct mill land in Mumbai’s Byculla area.

The company won an auction last year to buy the five-acre land from Mahindra Lifespace Developers and the Kanoria family.

Further, the company plans to induct an investor in the project. The investor is expected to own around 45% in the project.

Peninsula Land is known for its concept-based architectures in the commercial, retail and residential sectors. The company is also known for its professional corporate management, international landmarks and value additions.

Peers
Company Name CMP
Lodha Developers 1057.10
Prestige EstatesProj 1470.50
Dilip Buildcon 395.30
DLF 665.10
Oberoi Realty 1698.80
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