Mumbai-based Rajani Associates have advised real-estate company Akruti City in raising approximately INR 300-450 crores (-96 million) through Qualified Institutional Placements (QIPs). The team was led by Partner Sangeeta Lakhi [pictured], assisted by Nagashree Bhat. Rajani Associates' due diligence team for this transaction was led by the Head of Property, Nivedita Parwani.

The domestic counsel for the underwriters were Crawford Bayley & Co, Mumbai, led by Partner Sanjay Asher and Associate Prerak Ved. The international counsel for the underwriters were Dorsey & Whitney LLP, led by India Practice Head John Chrisman. The funds raised through the QIP are expected to be utilized to finish several pending real estate projects in Mumbai, including the Slum Rehabilitation Authority project in Andheri.

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