Happy

Never mind the lacklustre retail support for its IPO, DLF is getting significant investment from international private equity investors for its SEZ.

Overseas investors are bullish on SEZs in India and the top brass at DLF managed to get US hedge fund DE Shaw to invest $400 million in DLF Assets Private Ltd which is building SEZs.

Now UK fund Trikona is investing in another SEZ in Gurgaon. Trikona arm, Trinity Capital PLC will invest about $75 million for 49.4 per cent stake in Luxor Cyber City.

The SEZ to be developed by Luxor & Trinity, already notified by the government spans over 63 acres and will be developed for IT/ITES companies at a cost of $400 million. Trikona has already invested another $420 million in another IT park near Greater Noida.

Luxur group

Luxor Group, promoted by the Jain family diversified into real estate in 2003 and has tied up with developer Uppal Group. Luxor known for its stationary business with brands like Pilot and Waterman pens want to focus on hospitality, retail and cyber cities.

Finally PE investors are finding the SEZ story interesting. This despite the political debate that's still raging and despite the recent controversies over alleged duty evasion by big corporates like Essar and Reliance in their SEZs.