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Private Equity | 7 March 2012

Rustomjee Group Raises R310Cr From Piramal Healthcare, Future Capital

by Charmi Gutka
Rustomjee Group Raises R310Cr From Piramal Healthcare, Future Capital
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Real estate developer - Rustomjee Group has raised R310Cr from Piramal Healthcare and Future Capital for project financing and buying out its investor in three of its projects.

According to BS, Piramal Healthcare have subscribed to secured NCDs worth R110Cr, issued by the operating entities of the group, while Future Capital has subscribed to NCDs worth R200Cr.

Last Nov, Trinity Capital Plc exited Enigma Constructions Pvt. Ltd - developer of Rustomjee Evershine Global city in Virar by selling it's stake for Rs48Cr.

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