FSL has just filed EGM for a possible raise with JPM as an advisor, and we see stock moving up 30% in last 15 days. JPM was incidentally also the advisor to Genpact-Bain deal and that deal got Genpact $3.3 Bn valuation. That, and newsflow from the space got us out from the earlier gloomy stance.
Gujarat based realty developer Ganesh Housing Corporation has raised R225 Cr from Piramal Fund Management, the realty investment arm of Piramal Group, for its Ahmedabad project spread over 10 acres. The investment was done through debt instruments having a fixed return investment of over 18%.