Century Real Estate, an integrated, full-service, real estate development company headquartered in Bangalore raised Rs1bn last week through a private placement of Non-convertible Debentures (NCD's).
The company received an overwhelming response with the entire issue being fully subscribed on the first day of opening of the issue.
Mahesh Prabhu, Director-Finance, Century Real Estate, said, "The management of Century Real Estate is thankful to all the investors for the confidence reposed in our company".
The company will be utilizing these funds towards project development.
Century Real Estate plans to launch seven new projects with a built-up area of 1.7mn sq. ft. in the next eight months.
Prabhu further said that with the launch of these projects, the company would have added an inventory of over 1500 apartments to our already existing inventory of 1200 apartments.
The company currently has nine ongoing projects with a total built-up area of 1.2mn sq. ft. in various parts of the city.