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Australia's Platinum Investment Management has raised its stake in India's second largest real estate firm Unitech to 5.16 per cent.
Platinum Investment Management has acquired 60,56,100 equity shares of Unitech, which is equal to 0.23 per cent of the total paid up capital of Unitech, the realty firm said in a filing on the BSE.
Before this open market transaction, Platinum had 4.93 per cent stake in Unitech, the filing added. The promoters have 48.57 per cent stake in Unitech.
On Monday, shares of Unitech closed at Rs 39.30 on the BSE.
Gurgaon-based Unitech has about 10,000 acres of land bank mainly in Noida, Greater Noida and Gurgaon. It is present in almost all the verticals of real estate including housing, retail, offices and hotels.
The company has recently announced that it would launch 10 million sq ft of area in the next three months.
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