Unitech Corporate Parks (UCP), which is listed on the Alternative Investment Market (AIM) and 40% owned by Unitech, has put one of its IT SEZs in Gurgaon on the block, reports CNBC-TV18’s Nayantara Rai. The UCP board will be arriving in India later today.
Also Read: Qatar Investment Co eyes Indian realty with RMZ pactUCP was incorporated in the Isle of Man in September 2006, with the business strategy of making investments in Indian commercial real estate that is being developed specifically for the high growth IT (Information Technology) and ITES (Information Technology Enabled Services) sectors.
UCP plans to raise about Rs 3,000 crore from this exercise. Sources say 11 bidders have expressed interest, including Blackstone, GIC, etc. Of the Rs 3,000 crore, Unitech will get Rs 1,100-1,200 crore on account of its 40% stake in UCP. The company is hoping to finish the entire process in about 10-15 days once the bids are in place, sources say.
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