Unitech looking to sell Gurgaon IT SEZ

Our Bureau Updated - November 23, 2017 at 11:54 AM.

Unitech Corporate Parks (UCP), a Unitech group firm listed in London, is looking to sell its IT SEZ in Gurgaon. The company is understood to have shortlisted a few bidders including General Insurance Company, Blackstone, Dishman Pharma, Mapletree and Canadian Pension Fund.

The Special Economic Zone comprises about 3.5 million sq ft of office space. UCP holds a 60 per cent stake while Unitech owns the balance shares.

The sale is expected to generate about Rs 1,100-1,200 crore, which Unitech will use to retire its debts and fund its expansion plans. UCP raised about £360 million by issuing and placing its ordinary shares on the Alternative Investment Market of the London Stock Exchange in December 2006.

>bindu.menon@thehindu.co.in

Published on July 16, 2013 17:21