Wachovia Corporation invests $ 57 million in Vipul Ltd

Wachovia Corporation has invested in Vipul Ltd. through its Company “WDC Ventures Ltd.” WDC Ventures Ltd. It has subscribed to 14.95% equity capital of Vipul Ltd. for $ 57 million under preferential allotment. (reports moneycontrol)

“We are excited about the stake that Wachovia has taken in our company. It is a privilege for us that such a large organization has shown their confidence and has invested in our company. This capital infusion from Wachovia will help us to take up large projects in future. We thank WDC Ventures Limited for the timely support and this will allow us to grow big in the Real Estate World”, said Mr. Punit Beriwala, Managing Director, Vipul Limited, while addressing the Press Conference.

“Wachovia believes Vipul has a winning strategy in the Indian market, a strong track record of delivery and a management team with the vision and focus on execution to allow the company to grow in what has become a very competitive environment”, said Mr. Sandip Kundu, Director, Wachovia.