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Source: media reports

Sobha gets $10 mn FDI for residential project

Sobha gets $10 mn FDI for residential project
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First Published: Mon, Jul 07 2008. 02 29 PM IST
Updated: Mon, Jul 07 2008. 02 29 PM IST
PTI
Mumbai: Real estate firm Sobha Developers has received $10 million (about Rs43 crore) of foreign investment for setting up a residential project in Bangalore.
“The company has received Foreign Direct Investment from Dubai-based Pan Atlantic LLC totalling for a 40% stake in a Special Purpose Vehicle (SPV),” Sobha Developers said in a filing to the Bombay Stock Exchange.
“The residential project to be set up by the SPV would be launched at Hosahalli in Bangalore,” it added.
Shares of Sobha Developers were trading at Rs259, up 1.67% in the afternoon trade on the BSE.
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First Published: Mon, Jul 07 2008. 02 29 PM IST