Suraksha ARC and JM Financial invest in Unitech
Real estate Investment CompanyUnitech group secured a Rs 2,000-crore investment from two asset reconstruction companies to complete pending projects and is scouting for more investors for additional funding as the date set by the Supreme Court to deposit money nears in July, said two persons close to the development. The company is also pursuing state governments to secure another Rs 1,000 crore in pending claims. Unitech got investments from Suraksha ARC and JM Financial to the tune of Rs 2,000 crore. Of these, around 16 projects are under JM Financial’s portfolio while seven projects are under Suraksha’s portfolio. The investments made by both the ARCs are towards working capital of the pending projects.
Tags : News/Views