Euronext to be the next stop for Indian Realty Biggies

December 4, 2006	(Be the first to rate this story!)  Loading ...
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Recently, Yatra Capital Limited became the first Indian real estate company to tap the Euronext after a 100 million euros placing. Formed in a merger of Brussels Stock Exchange and Paris Bourse, Euronext is a pan-European stock exchange with subsidiaries in Belgium, France, Netherland, Portugal and the United Kingdom.

The company, incorporated in Jersey and established to invest in and profit from the rapidly growing Indian real estate market, raised 100 million euros through a placing of 10 million ordinary shares at 10 euros each.

At present, the company expects to bring together the fund of about 200 million euros through the bank borrowings, says the company’s source. Yatra Capital aims to entertain the interests of those overseas investors who are looking forward to inject vibrant and refreshing ideas in booming real estate sector of India. The company’s directors oversee excellent future prospects with the Indian Government opening an exit route for the foreign investors by lifting the 10-year lock-in as a step towards further liberalisation of the capital account.

Yatra Capital intends to target capital growth for its investors in excess of 25 percent per annum through establishment of quality residential, commercial and retail properties in India.

Thriving on the rapid pace, real estate in India continues to catch the eye of potential investors who are eager to participate in India’s strong upside, which includes enormous growth prospects. However, creating shareholder value requires expertise in local market with a strong network of contacts on the ground, says Ajoy Veer Kapoor, Director of Yatra Capital.

News Published Under:   Real Estate India, Real Estate Developers |

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