The company will raise funds by way of issuance of upto 3,000 secured, redeemable, unlisted, unrated, non-convertible debentures bearing a face value of Rs 10 lakh each at par for an aggregate amount of up to Rs 300 crore in one or more tranches by way of a private placement basis or through any other permissible mode or any combination thereof.

Puravankara, headquartered in Bengaluru, is one of India’s most admired and trusted real estate developers. The company has established three distinct and successful residential brands – Purva, Provident Housing Limited (PHL) and Purva Land, catering to the entire spectrum of housing and plotted development needs.

The counter shed 0.19% to end at Rs 234.10 on the BSE.