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Standard Chartered Bank Lends Rs 250 Crore To Bangalore Realty Firm, Divyasree Developers

Standard Chartered Bank has lent 250 crore of construction loan to DivyaSree Developers for developing a mixed used project in Bangalore, said more than one person with direct knowledge of the development. The mixed-use residential project, DivyaSree Technopolis, is being built on the Old Airport Road in Bangalore. DivyaSree Developers refused to comment on the transaction. Standard Chartered could not be reached for a comment. The Bangalore-based builder is also in talks with private equity funds, including the PE arm of Standard Chartered to raise $30 million by selling a stake in its residential development in Bangalore.

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05 Mar 2012

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