Private Equity fund IL&FS Investment Managers has exited its investment in Bhartiya City, a 125 acre integrated township project in Bangalore..The deal is valued at Rs. 325 crore ($55.3 million)..J. Sagar Associates (JSA) advised Bhartiya City and its promoters with a team led by Senior Partner Berjis Desai along with Partners Sidharrth Shankar and Pallavi Puri and Associate Mudita Roy..IL&FS was advised by its in-house team..IL&FS had invested Rs. 150 crore for a 26% stake in 2007 by way of compulsorily convertible preference shares..Bhartiya City is being developed in Hebbal, Bangalore. The project has an estimated built-up area of around 20 million sq. ft. including a residential-commercial component, as well as an IT Park, a hotel and other facilities, according to VCCircle.
Private Equity fund IL&FS Investment Managers has exited its investment in Bhartiya City, a 125 acre integrated township project in Bangalore..The deal is valued at Rs. 325 crore ($55.3 million)..J. Sagar Associates (JSA) advised Bhartiya City and its promoters with a team led by Senior Partner Berjis Desai along with Partners Sidharrth Shankar and Pallavi Puri and Associate Mudita Roy..IL&FS was advised by its in-house team..IL&FS had invested Rs. 150 crore for a 26% stake in 2007 by way of compulsorily convertible preference shares..Bhartiya City is being developed in Hebbal, Bangalore. The project has an estimated built-up area of around 20 million sq. ft. including a residential-commercial component, as well as an IT Park, a hotel and other facilities, according to VCCircle.
