Mumbai: Real estate firm Sobha Developers today said it has received an additional $10 million (about Rs46 crore) of foreign investment for its residential project in Bangalore.
In a filing to the Bombay Stock Exchange, Sobha Developers said it has received foreign direct investment (FDI) from Dubai-based Pan Atlantic LLC in a Special Purpose Vehicle (SPV) for its project at Hosahalli in Bangalore.
Earlier in July the company had received a $10 million investment from the Dubai-based firm for the same project, totalling for a 40% stake in the company.
The project is spread over 13.27 acres with total developable area of more than 17 lakh sq ft of residential township, the filing added.
Shares of the company were trading at Rs239.70, down 7.95% in the late afternoon trade on the BSE.