Real Estate PE firm Red Fort Capital is acquiring 26% stake in Joint venture (JV) with Ansal Properties & Infrastructure Ltd for Rs.200 Cr.

The JV will develop a 108-acre residential township project adjacent to its existing 112-acre Esencia township project in Gurgaon.

The investment by Red Fort in the JV would be through a mix of equity and CCDs.

Transaction Reference: BSE

Last year, Ansal entered into a smiliar funding deal by selling 49% stake to ICICI Prudential Asset Management Company in its Aquapolis project, a 131 acre township project in Ghaziabad, for Rs.72 Cr.

The company also raised Rs 231.4 Cr in October last year through QIP. The fund raised through this was mainly used for retiring part of the high cost debt of Rs.135 Cr.

Few months back, Red Fort bought 24.5% stake in an upcoming office complex project developed by Parsvanath Developers Ltd at New Delhi’s Connaught Place, for Rs.120 Cr.

Red Fort Capital had earlier bought 18% stake in the North Delhi project for $19 Mn in June'09, followed by purchase of additional 4% in the same project for $5.3 Mn in Oct'09.

Last year, Motilal Oswal Private Equity Advisors through its India Realty Excellence Fund invested around Rs. 45 Cr in Godrej Buildwell, a special purpose vehicle (SPV) floated by Godrej Properties for 49.5% stake. Few months back, IL&FS Milestone Fund bought 74% stake for Rs.575 Cr in HCC Real Estate's corporate park '247 Park' in Mumbai.

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