Singapore's GIC to invest about $61m in Prestige Estates Projects

Singapore's GIC to invest about $61m in Prestige Estates Projects

Photo: Reuters

Singapore’s sovereign wealth fund GIC is investing about 61 million (Rs 430 crore) in Indian real estate developer Prestige Estates Projects Ltd through a preferential allotment of shares, the latter said in a regulatory filing.

“…the Board has approved to create, offer, issue and allot on preferential basis, 13,441,654 equity shares of face value Rs.10 at a price not less than floor price of Rs.323.22, determined in accordance with Chapter V of the SHBI ICDR Regulations to Gamnat Pte Ltd,”Prestige Estates in its filing, dated December 20, 2019, said.

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