Real estate and textile firm Modern India Ltd said it is in talks with private equity players to dilute the founders' holding and also sell stake in its special economic zone unit, its top official said.
“We are in talks with 2-3 players, and we will finalise in the next one to one and a half months”, Chairman and Managing Director V K Jatia told Reuters on Friday.
The firm's monthly rental will more than double to 20 million rupees after June, from between 7.5 million and 8 million rupees a year ago, due to an increase in rental income, Jatia added.(Reuters)