Kamat Hotels India today said it has decided to divest its 60 per cent stake in the subsidiary, Concept Hospitality Ltd to other group of shareholders. The company in a filing to the Bombay Stock Exchange said that the board at its meeting held on February 1, decided to divest its stake in its subsidiary. Further, the company has authorised the Executive Chairman and Managing Director to do all necessary acts, deeds and to sign necessary documents in this regard, the filing added.(Business Standard) […]

Unitech, India’s second biggest realty firm by market cap, is in talks with three private equity players to sell about 20-26% of its equity for an estimated Rs 2,500 crore, according to a company official. The funds would go into diluting its debt load, which is currently at Rs 8,000 crore. A Unitech board meeting on Saturday approved the proposal to offload stake in the company, and the management is in talks with international private equityfunds such as TPG Axon, SUN Apollo and Bergruen Holding, said the official who didn’t want to be identified. The company would also raise Rs 750 crore by selling its five-star hotel in Gurgaon and an office complex in south Delhi’s Saket business district. “This will make it one of the most under leveraged real estate companies in the country,” he said. For its planned stake sale, Unitech has hired UBS Advisor, which had earlier helped the company in its telecom venture, Unitech Wireless Ltd. […]