Shree Precoated to raise about Rs 1000 crore

Steel and real estate firm Shree Precoated Steels Ltd plans to raise around Rs 1000 crore from private equity funds for its realty project in Mumbai, a senior official told Reuters on Thursday.

"Things are at a discussion stage right now. It should be over by this month-end or early next month," O P Gandhi, company secretary, said.

Shree Precoated, part of the Ajmera Group, also plans to develop a 1.5 million square feet commerical-cum-residential project in Mumbai, Gandhi said.