Trikona Cap Takes 33% Stake in Uppal’s 67.5-acre Haryana SEZ

July 27, 2007	(Be the first to rate this story!)  Loading ...
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Real estate fund Trikona Capital has acquired 33% stake in real estate company Uppal’s Group’s Haryana SEZ for around $50 million.

SEZ is owned by a special purpose vehicle (SPV), in which the remaining stake has been acquired by Uppal’s Group.

The proposed SEZ has got the approval from Board of Approvals (BoA) and will come up over 67.5 acre in the Shikohpur region of Haryana.

Uppal’s Group informs to have received investment from Trikona Capital and the SEZ has recently been notified by the government. However, the company has not revealed the exact amount but it is nearly Rs 200 crore.

It would be Trikona’s second investment in Uppal’s Projects. The fund has invested $58.3 million for the development of Uppal’s IT Park, which has been developed by Panthera Developers.

Trikona Capital is the asset management company of Trinity and makes investment in real estate through two funds launched in the US and UK.

Uppal’s Group is Delhi’s leading real estate developer in the residential sector. The company also holds interests in development of commercial and office space. The company has most of its real estate projects in tier II and tier III cities in Haryana, Punjab, and UP.

Shedding considerable light on the fund’s investment portfolio, it is attractive enough with the investments made in big Companies such as highway developer IL&FS Transportation Networks, Kapstone Constructions, etc.

News Published Under:   Special Economic Zones |

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