Euronext-listed Yatra Capital Ltd said it has bought a 49 pct stake in a real estate joint venture development company in India for 21.6 mln eur.
This is Yatra Capital's first investment out of the 100 mln eur in funds that it raised when it listed on Euronext Amsterdam in December last year.
The company said the joint venture with India's Kolte Patil Developers Ltd will initially focus on Pune city, near India's financial capital Mumbai. The company will initially develop three separate residential projects in Pune.
The joint venture will begin construction activity later this year, Yatra Capital said in a statement.
Source : Hemscott