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Yatra Capital Limited
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Publicatie datum
22 jan 2013 - 06:21
Statutaire naam
Yatra Capital Limited
Titel
Yatra Capital – Exit from Mixed Use Project in Bhavnagar
Bericht
The Board of Yatra Capital announces exit of its stake, from its mixed use investment in Bhavnagar, India. Yatra Capital, through its 100% subsidiary, K2 Property Limited, has agreed to a NAV accretive exit from this investment for a total consideration of INR 75 mn (c. € 1.01 mn). Of this, part proceeds amounting to INR 62.2 mn (c. € 839,066) have already been received by K2 Property Limited on January 17, 2013. The balance of proceeds are expected to be received in the second half of April 2013, in compliance with the restrictions laid down in Foreign Direct Investment Norms (FDI norms), which govern investments made by foreign investors in Indian Real Estate.
The Board of Yatra Capital along with the Fund Manager continue to be focused on active asset management with an intent to optimise the value, structure and exit timing of the investments.
Datum laatste update: 06 oktober 2024