Unitech to shed 40% stake, mop up Rs 4,000 crore

Corporate Bureau
Posted: Saturday, Jan 10, 2009 at 2153 hrs IST
Updated: Saturday, Jan 10, 2009 at 2153 hrs IST

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Realty firms on hiring spree again DLF profit crumbles 77%Realty demand up 15% in Q2 ‘Property rates to fall 25% in 12-15 months’

New Delhi:

The country’s real estate industry has been hit the hardest by the current meltdown with realty index falling by 82.56% between January 1 and December 31, 2008.

Tall story

•Not looking at straight dilution of equity

• To opt for convertible bonds

• Likely to finalise deal within the next week

• Talks with Bain Capital and Avenue Capital underway

• UBS is advising Unitech on the deal

• Marketcap at Rs 5,819.51 crore...

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