Kumar Urban Gets Rs 50 Cr Funding From Reliance PMS, Kotak
Kumar Urban Development Limited has raised Rs.50 Cr from Reliance Portfolio Management Services (Rs.30 Cr), a part of 
Reliance Capital Asset Management Ltd, and Kotak Mahindra Bank Ltd's NBFC (Rs.20 Cr).
Company has 15 ongoing projects across four cities in India with a total saleable area of 3.42 Mn sq. ft. It plans to launch two more projects in Mumbai and Pune later this year.
Transaction Reference: Livemint
Kumar Urban Development is a Pune-based realty firm promoted by Lalit Kumar Jain and his family.
Earlier this year, KUL raised $55 million from FMO, the entrepreneurial development bank of the Netherlands, for the Pune and Mumbai projects. Last year in February, company had planned to raised $800 Mn through PE by diluting stakes in various SPVs.
Company's 15 ongoing projects are located in Pune (9), Mumbai (4), Bangalaru (1) and Mahabaleshwar (1). Ongoing projects consist of eight residential, two commercial/retail projects, one rehabilitation project and four redevelopment projects.
Kotak Mahindra Bank may have invested in the company through its NBFC, Kotak Mahindra Prime Limited.
In the real estate space, last month, IL&FS Milestone Realty Advisors Pvt Ltd invested $20 Mn in a leased commercial building in Mumbai, 'Patel Corporate Park', while Monsoon Capital bought 50% in Phoenix Group's real estate project 'Golf Edge' for around $16 Mn and JP Morgan invested $30 Mn in Parsvnath Developers Limited's residential project - La Tropicana.
| 1 Readers' Comments | Post a Comment >> |
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 09/08/11 | Kumar Urban- Reliance PMS, Kotak Bank's NBFC | Private Equity | Kotak Mahindra Prime Limited | 11.07 |
| 31/12/09 | Kumar Urban- Reliance Capital | Private Equity | Reliance Capital Limited | 23.00 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 18/05/12 | Private Equity | Panchshil Real Estate Consultants Private Limited | EON SEZ | - | Completed |
| 18/05/12 | M&A | Godrej Properties Limited | Bangalore Land | 18.25 | Planned |
| 18/05/12 | Private Equity | Panchshil Real Estate Consultants Private Limited | Hadapsar Project | - | Completed |
| 18/05/12 | M&A | Looking For | Mumbai Land | 529.20 | Planned |
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Reliance Capital Asset Management Limited | Reliance Capital Limited | Reliance House, Nr Mardia Plaza, Off C.G. Road, | HDFC Asset Management Company Limited | www.reliancemutual.com |
| Kumar Urban Development Limited | LalitKumar Jain & Family | Kumar Capital 2nd floor, 2413 East Street Camp. |
Lalith Gangadhar Constructions Private Limited Century Real Estate Holdings Private Limited StarLight Systems Private Limited Sobha Developers Limited Ansal Properties And Infrastructure Limited Tanglin Developments Limited |
www.kudl.in |
| Kotak Mahindra Prime Limited | Kotak Mahindra Bank Limited | 36-38 A, Nariman Bhavan, 227, Nariman Point | http://www.kotak.com/Kotak_GroupSite/annual_reports_flash/fy06-07/report/kmprime.html | |
| Dealforwards |  |
| May 16, 2012... | Piramal Healthcare Acquires Decision Resources Group |
|
| May 17, 2012... | Car Rental Firm Carzonrent Acquires QCABS |
|
| May 21, 2012... | Healthkart Acquires Health Nutrition E-store Madeinhealth.com |
|
| May 18, 2012... | Panchshil Realty Buys Back IREO, Merrill Lynch's Stake In Three Projects |
|
| May 15, 2012... | A Profitable Injection Mould Design & Mfg Co Looking For A Strategic Investor |
|
