HDIL raises $250 million in share sale:sources

HDIL raises $250 million in share sale:sources

Mumbai: India’s Housing Development and Infrastructure has raised $250 million in a share sale to qualified institutional investors, two sources with direct knowledge of the deal said on Tuesday.

The share sale, which was launched on Monday, recieved strong response from overseas institutional investors, said a source, who declined to be named as he was not authorised to speak to the media.

Shares in HDIL were sold at 268.18 each, the sources said.

JP Morgan was the sole bookrunner for the offering, the source said. Officials at JP Morgan in India and HDIL were not immediately available for comment.