Lavasa Corporation, a subsidiary of Mumbai’s Hindustan Construction Company
(HCC), proposes to raise around Rs 2,000 crore through an initial public
offering (IPO) during the second half of 2010.
The company, which is developing a township at Lavasa near Pune
(Maharashtra), has commenced laying infrastructure for Phase II of the project.
Lavasa aims at developing five towns in the hill station project.
The company has invested Rs 2,000 crore in the initial phase and Rs 3,000
crore is likely to be spent on Phase II of the township, which is expected to
have a total residential population of 20 lakh. HCC has already inked
partnerships with Apollo Hospitals, Symbiosis College and ITC Hotels for the
project and talks are on for tie-ups in the hospitality, educational and
recreational space.
Also See:
Faldo
plans academy, golf course at Lavasa (11-Jun-09)
Related Links:
Project profile