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Mumbai:
Bahrain-based Gulf Finance House has raised over $630 million to fund infrastructure
projects of energy city in India in one of the most successful equity raising
by the project''s promoter. The
Gulf-based investor said it is now looking at further investment opportunities
in India. "The
success of the exercise to raise equity for energy city India underscores the
strong appetite of our clients for opportunities in India as well as the success
of our energy city Qatar project," GFH chairman Esam Janahi said. Janahi
said the issue was oversubscribed by almost 60 per cent. The equity issue was
underwritten by Kuwait Investment Company. The
project, with an estimated development value of $2 billion, will be built on 300
acres of land in Maharashtra.
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