11 Sep , 2021 By : monika singh
New Delhi: Realty firm Arvind SmartSpaces Ltd (ASL) has raised around Rs 85 crore equity capital from HDFC Capital's real estate fund and its promoters by issuing preferential shares. ASL said in a statement that its board approved the allotment of 68.5 lakh equity shares, aggregating to about Rs 85 crore, to HDFC Capital Affordable Real Estate Fund-1 (H-CARE 1) and the promoters of ASL for Rs 124 per share.
Post allotment of shares, H-CARE 1 will have about a 9.5 per cent stake in the company.
"The equity raised in this round will give a strong impetus to this growth initiative and further strengthen the balance sheet," ASL said.
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