The Gurgaon-based developer also said it has completed the deal to sell its IT Park BPTP Crest in Gurgaon to Bengaluru- based RMZ Corp for an enterprise value of about Rs 850 crore.
The fund raised from the sale of IT park would be utilised to give exit to JP Morgan Chase and CPI from the company.
Part of the fund would be used to provide to give complete exit to global investment firm Blackstone group, which has some stake in this IT park.
BPTP had raised Rs 322 crore in 2007 from CPI India I Ltd, a Citigroup fund, now managed by Apollo Management, by selling 5.67 per cent equity stakes in the company.
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In 2008-09, the realty firm further raised Rs 241 crore, in two rounds of funding, from Harbour Victoria Investment Holdings, a subsidiary of JP Morgan Chase group of companies, by selling 6.21 per cent stakes in the company.
Through the sale of IT Park, BPTP would also give complete exit to the Blackstone group, which had invested in this asset in 2007. IT Park has leased area of about 7 lakh sq ft.
"Post giving exit to three of our investors, we now are fully focused on completing all our projects at the earliest by raising construction loans through banks/financial institutions," BPTP spokesperson Rohit Mohan said.
BPTP, which is facing issues with customers due to delays in project completion, also assured the buyers that it will fulfil the promise of delivering the housing complexes.
Initially, BPTP had plans to give exit to CPI and JP Morgan through initial public offer (IPO). The company had filed for its draft red herring prospectus in December 2009 and received Sebi's approval in May 2010.
However, BPTP could not launch its IPO due to poor market conditions in the aftermath of the global economic meltdown.
BPTP is developing various projects in Faridabad, Noida and Gurgaon.