HFCL puts 74% in HTL on the block

February 21, 2007	(1 votes, average: 5 out of 5)  Loading ...
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A Multi-bagger deal linked to real estate assets could be in the offing. Telecom equipment maker Himachal Futuristic Communications (HFCL) is understood to have put its 74% stake in Hindustan Teleprinters (HTL) on the block. HFCL is believed to be looking to unlock the value of real estate owned by HTL in Chennai and has put a price tag of Rs 1,000-1,100 crore.

If the deal goes through at the asking rate, it will be one of the biggest deals in the Indian real estate sector, next only to Unitech’s purchase of a 340-acre plot in Greater Noida for Rs 1,582 crore.

HFCL had acquired majority stake in HTL as part of the latter’s disinvestment process.

Source from The Economic Times

News Published Under:   Real Estate India |

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