Leela to raise Rs. 700 cr

Luxury hotel chain Hotel Leelaventure plans to raise around Rs. 700 crore through sale of its non-core assets over the next two years, the company said on Wednesday. HT reports.

Luxury hotel chain Hotel Leelaventure plans to raise around Rs. 700 crore through sale of its non-core assets over the next two years, the company said on Wednesday.

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This sale of non-core assets - which includes selling land - is part of the company's plan to raise around Rs. 2,000 crore over the next couple of years through bonds, institutional placement of shares and rights issue.

"The fund raising is part of our plans to reduce company debt," said Vivek Nair, vice-chairman and managing director of Leela Group.