Ansal Properties close to raising Rs 70 crore

Last Updated: Fri, Apr 16, 2010 09:57 hrs

Ansal properties and Infrastructure is about to sign a private equity deal to raise Rs 70 crore in one of its residential projects, a top official said.

"We are signing private equity in a project. The deal is at the signing stage," vice chairman and managing director Pranav Ansal said.

Ansal properties share price

The deal is likely to be signed this month and will bring in an equity infusion of Rs 70 crore in a housing project, he said.

Ansal also said company had no plans at present to raise funds through share sale. "We have strong cashflows...I'm going to get so much surplus in the next two years. We aren't looking at any QIP as of today," he said.

Ansal properties had announced in June that it planned to raise 15 billion rupees through sale of shares to institutions.

More from Sify: