Sahara realty arm files IPO prospectus, to raise Rs 3,450 cr

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Posted: Tuesday, Sep 29, 2009 at 1946 hrs IST
Updated: Tuesday, Sep 29, 2009 at 1946 hrs IST

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New Delhi: Sahara Prime City, part of Subrata Roy-led Sahara Group, on Tuesday filed the draft prospectus with the market regulator SEBI for its initial public offer to raise up to Rs 3,450 crore.

The company will utilise the fund raised from the IPO to develop townships in 99 cities, a source said.

Sahara Prime City will be the third Sahara group entity to enter the capital market after Sahara Housingfina Corp Ltd and Sahara One Media & Entertainment Ltd and is present in over 200 cities with its housing and commercial projects.

However, the group's ambitious Ambey Valley project is not part of Sahara Prime City.

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