Bangalore, Oct 31 (UNI) US based Real Estate private equity fund has agreed to make strategic investment in Shriram Properties Limited (SPL), a leading developer and part of Rs 25,000 crore Shriram Group.
SPL Managing Director M Murali, disclosing this to newsmen here today, said, "Shriram Properties and Walton Street Capital have built a strong foundation of trust and mutual respect based on our past interactions, including our joint venture in the Uttarpara Development in Kolkata." Walton Street Capital India Managing Director Sourav Goswami, who was also present, said that "this investment represents an important and critical element of Walton Street Capital's strategy for India and the fund's long-term commitment to participate in the Indian growth." Replying to a question Mr Murali said that for the time being the proposed IPO was deferred "but we will come back soon".
To another question, he said that SPL would soon spread its wings in Mangalore and Bhopal.