Deutsche Bank Singapore invests $425-mn in Lodha group

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Posted: Friday, Sep 28, 2007 at 0000 hrs IST
Updated: Friday, Sep 28, 2007 at 1515 hrs IST

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Mumbai, September 28:: Mumbai-based real estate developer, Lodha Group, has received an investment of USD 425-million from a group of private equity investors led by Deutsche Bank Singapore.

This investment will fund the development of three of the Lodha group's FDI-compliant projects located in and around the metropolis, a company statement said today.

Mumbai-based Investment banking firm Trustcap acted as the sole advisor to the transaction.

Under the transaction, those who have invested in the Lodha group's Special Purpose Vehicle (SPV) for the development of the three projects will also receive a stake in them, it said.

Lodha group has been aggressively expanding in recent times and currently has over 25-million sq ft under construction across over 27 projects in and around the city.

With a land-bank of over 4,000-acres, the current valuation of its FDI-compliant and non-compliant businesses is estimated at around USD 8-10-billion.

Earlier, JP Morgan and ICICI Ventures had made investment in the group.

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