Religare promoters raise Rs 1,400-cr debt from StanC - Global Banking Major Standard Chartered: The funds raised could be invested in the growth plans for Religare, which has filed for regulatory approval for its Rs 800-crore rights issue, said a source. The funds raised by the Singh brothers was in their personal capacity and not in the name of Religare, he clarified. The billionaire brothers have mortgaged seven properties with a total space of 1.3 million square feet to raise the funds. The properties include two offices in Vile Parle and Jogeshwari in Mumbai, the Saket office in Delhi that Malvinder bought from Unitech in 2009, two back offices in Noida, group company offices in Ahmedabad and Pune, the source said.Read More
Wednesday, August 24, 2011
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