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Sunteck Realty planning to raise funds up to Rs 2000 crore

Sunteck Realty is planning to raise funds up to Rs 2000 crore either by way of QIP, FPO, ADR, GDR, rights issue, debt issue, preferential issue, FCCB etc. or any other method for issue of fund in two manners. The first way is via Non-Convertible Debt up to an aggregate amount of Rs 1500 crore by way of private placement in one or more tranches and the second one is by way of equity shares and/or any other securities convertible into equity shares for an aggregate amount not exceeding Rs  500 crore in one or more tranches.

The meeting of the Board of Directors of the company will be held on May 23, 2018, to consider and approve the same.

Sunteck Realty is a Mumbai-based real estate development company, catering to the premium ultra-luxury and luxury residential segment.

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