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Panoramic to raise up to Rs 100 cr via stake sale

Hospitality major Panoramic Universal today said it is in talks with a couple of private equity players and a strategic investor to raise up to Rs 100 crore by offloading stake to part-finance acquisitions of three-star and four-star hotels in India. “A couple of private equity investors and a strategic investor have evinced interests in acquiring stake in the company. We are in discussions with them but, no decision has been taken yet,” Panoramic Universal's Senior Vice President (Finance & Operations) Utpal Parekh told PTI. Declining to reveal the identities of the interested parties in acquiring stake in the company, Parekh said that Panoramic Universal intends to raise Rs 75-100 crore through equity dilution. […]