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| PS Group plans IPO | | | BS Reporter / Kolkata December 03, 2007 | | | |
| Kolkata-based PS Group is planning to tap the capital market and issue shares through an IPO in 2008.
| | | | The fund thus raised would be utilised for the company's proposed realty projects, slated to be worth Rs 10,000-15,000 crore, in the next three to four years, said Pradip Kumar Chopra, director PS Group on the sidelines of a press-conference on the launch of PS Srijan Tech Park in Kolkata on Tuesday.
| | | | The company is yet to approach SEBI for the IPO.
| | | | This apart, the PS Group has roped-in a Singapore-based private-equity firm, which will fund up to 75 per cent project costs of the each of the four SEZs, the group is planning to build.
| | | | The company is planning SEZs in Chandigarh, Raipur, Jaipur and Kolkata in the next three years. The Chandigarh SEZ will be spread over 27 acres and entail an investment of Rs 300 crore. The other three SEZs will be spread over nearly 250-400 acre and require investment of nearly Rs 3,000 crore each.
| | | | The Chandigarh SEZ has been approved by the Punjab government, according to Chopra.
| | | | The Rajasthan government has given its in-principal nod to the Jaipur SEZ. In Chhattisgarh, the group is yet to approach the state for the SEZ apporoval and in West Bengal, the group is still awaiting the state government's nod for the SEZ project. | | | | | |
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