Sobha Developers receives US$ 10 Million funding from Pan Atlantic LLC

Sobha Developers Ltd has announces its Foreign Direct Investment (FDI) by M/s. Pan Atlantic LLC, Dubai for its new project to be launched at Hosahalli, Bangalore South. The said Foreign Company has contributed USD 10Mn for its participation of 40% interest in this venture.

A Special Purpose Vehicle (SPV) has been formed to develop a residential township.

The stock was trading at Rs.260.65, up by Rs.5.90 or 2.32%. The stock hit an intraday high of Rs.271.70 and low of Rs.259.

The total traded quantity was 42663 compared to 2 week average of 54426.

Source : Equity Bulls

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