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Lovells Scored Its First Indian Real Estate AIM flotation
| December 5, 2006 |  (Be the first to rate this story!) Loading ... |
Lovells has won its first Indian real estate AIM floatation off the back of a referral from Deutsche Bank.
Lovell’s team scored the mandate of Ishaan Real Estate, a holding company floated by K Raheja Group, raising 180m on London Stock Exchange’s junior venue, the Alternative Investment Market (AIM). The task has been simplified with the help of former JP Morgan colleague now at Deutsche Bank who has acquaintance with Chris Hourton, senior associate of Lovell and Ishaan as well.
Lovells worked in a joint venture with two Mumbai companies to take Ishaan to market and hopes to continue its role as corporate guru. Ishaan Real Estate is basically a listed fund with an initial portfolio of eight property assets. It announced Ian Henderson, former chief executive of Land Securities, as its new chairman.
The company will utilize 70 percent of all the proceeds to purchase 40 percent stake in each of the real estate projects in Hyderabad, Pune, Mumbai, and Bangalore.
News Published Under: Real Estate India, Real Estate Developers |
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