Due to high volatility and lesser appetite from retail investors, Rahejas have appointed Enam financial consultants to list them on London under the Alternate Investment Mechanism(AIM). They are planning to raise $500 Million for a particular project which will be under a Specia Purpose Vehicle(SPV).
Unitech a shady realty firm which is operator driven(atleast appears to be, why not when the stock is locked for 10 days in upper circuit and 15 days on lower circuit) is also planning to raise $500 Million under similar arrangements as that of Rahejas.
London beware, Indian Real estate was controlled by the underworld not too long ago. Their is a atleast 50% of black money involved.(What the Hell ? Yes if I buy an apartment/home, I have to pay some part of the deal in CASH which goes into the realtor's pocket and doesn't come on books at all. Ranges from 60% to 10%).
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