The founders of the CCD come on a break for sale of the real estate company

This decision is due to the sale of Siddhartha’s 20.32% stake in the software real estate company services company MindTree and about Rs 3,200 crore from selling two associated CCD firms (Coffee Day Enterprises Limited and Coffee Day Trading Limited). In March, Larsen & Toubro Ltd (L & T) will be given it.  Has said that its real estate company Tanglin Developments Limited is planning to sell New York-based private equity giant Blackstone Group LP-2 at an estimated cost of 2,700-2,800 million people, three people said they are familiar with the development.

Real estate company with this agreement, Siddharth was helped to repay nearly Rs 2,900 crore of debt, thereby greatly improving his financial condition.

Siddhartha will buy Global Village Tech Park Information Technology (IT) Park located in a 120-acre campus near Mysore Road near Bangalore. The property is owned by Tanglin Development, and Siddharth had planned to use his own sales proceeds to reduce his debt.”Siddhartha had a dire need to raise capital, but after the sale of the stake, he is not actively seeking to sell real estate, for now, although he still needs to raise more capital, the transaction is suspended for now. Has been done”. The above three people, all of whom spoke on condition of anonymity.

The Bangalore-based open market company increased its stake to 28.90% and later launched a well-organized open offer at 980 pounds per share for a Real estate property in India to cash in on this demand in the area. Earlier this month, private equity firm acquired a prestigious office building in the commercial district of One BKC, Mumbai’s Bandra Kurla Complex (BKC), in private 2,500 crores. He is also working on the purchase of Adani Realty 800,000 square feet commercial project additional 31% stake in MindTree in MindTree,

Mint reported on June 20 Given, Despite the resistance of four founder promoters of Software Services firm, L & T has acquired control over MindTree.It may be that at some point in the future, there may be a strategic partner who can participate in the board to develop the remaining part, but now it is not necessary to sell the asset in a hurry.

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