Foreign investors to invest in realty firm

Foreign investors to invest in realty firm
Published by Newsroom May 25th, 2007 in Newsbytes.
Mumbal: A clutch of foreign investors led by the Government of Singapore Investment Corp. Pte (GIC), billionaire investor George Soros and Morgan Stanley will acquire stakes cumulatively worth Rs683 crore in Anant Raj Industries.

GIC, which manages Singapore’s foreign exchange reserves, and or Its associate entities will pick up 3514 lakh shares in the domestic real-estate developer for about Rs432 crore, Anant Raj Industries informed the BSE. Besides, Morgan Stanley Dean Witter will acquire 13.65 lakh shares for Rsl68 crore and Soros’ hedge fund Quantum (M) Ltd will acquire 6.80 lakh shares for Rs83.60 crore, it added.

All the investors will acquire the stakes at the price of 1,22951 per share (determined as per SEBI (DIP) Guidelines) on preferential basis to the registered