PLL BoD approves fresh capital through 60 lakh equity shares

New Delhi, Jun 9 (UNI) Peninsula Land Ltd (PLL), a leading real estate developer of the country, today announced that its Board of Directors (BoD) has approved the public issue of the company of upto 60 lakh fresh equity shares.

Raising additional funds would be acheived either through a Qualified Institutional Placement (QIP), or follow on public issue, or private placement, or a combination thereof.

''PLL is committed towards creating a strong land bank. As a move towards this direction, in the past couple of months we have added approximately 10 million square feet of land bank. By way of this issuance we will strengthen ourselves further in adding and creating a stronger bank for the future,'' PLL Chairperson Urvi Piramal said.

PLL is the flagship company of The Ashok Piramal Group, which is involved in other businesses such as textiles, auto components and retail.

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