Omshakthy plans to raise Rs 150-cr via #privateequity route #GireeshBabu #Chennai @bsindia @resilient_ent

Chennai-based real estate developer, Omshakthy Agencies, is planning to raise around Rs 150 crore through the private equity (PE) route to support its proposed investment in a new mini-township project at Tirumudivakkam near Chennai.

The company had earlier raised around Rs 30 crore from Fire Capital Fund Mauritius Private Limited for its Rs 60-crore township project near Chennai. The company is looking at raising the funds for its proposed 150-acre gated community mini-township near Chennai city.

The initial investment, including the land cost and development, would be around Rs 300 crore, of which 50 per cent would be raised through PE, said R Ramachanthran, chairman and managing director of Omshakthy Agencies.

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