Ansal close to raising project funds

We are signing private equity in a project. The deal is at the signing stage,vice chairman and managing director Pranav Ansal said on Friday.

The deal is likely to be signed this month and will bring in an equity infusion of 700 million rupees in a housing project,he said.

Ansal also said company had no plans at present to raise funds through share sale. We have strong cashflows…I’m going to get so much surplus in the next two years. We aren’t looking at any QIP as of today,he said.

Ansal Properties had announced in June that it planned to raise 15 billion rupees through sale of shares to institutions.