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Jain Group to rally Rs 30 cr to fund expansion plans

Wednesday, 13 Jun 2018
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Kolkata-based real estate and hospitality developer, Jain Group, will raise around Rs 30 crore to fund expansion plans. It will also look to list its flagship company, Dream Gateway Hotels.

The Dream Gateway Hotels requires around Rs 75 crore for Phase-II expansion of Holiday Inn Kolkata Airport hotel. While Rs 30 crore will come from the IPO proceeds, another Rs 25 crore will come from internal accruals.

The remaining Rs 10 crore will come mostly as loans from financial institutions and banks.

 
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