OMAN GOVT FUND TAKES OVER 24.5% IN ANSAL TOWNSHIP

Ansal API's 2,500-acre township Megapolis in Dadri,Greater Noida, might see another round of stake dilution in the very first month of the project's launch. According to sources, State General Reserve Fund (SGRF) of Oman is planning to pick a 24.5% stake in the upcoming township, which pages the total value of the project at Rs 26,500 crore. The totle investment in the project was reported at Rs 13,000 crore of which 8.5% was picked up by HDFC AMC for Rs 1,105 crore recently. Another 15% is reportedly being eyed by PE firm Warburg Pincus, and Citigroup.

Courtesy: ET Realty Nov 21,08