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Shares of Kolte-Patil Developer rallied nearly 7% on Thursday after the company said that global investment firm KKR will invest Rs 193 crore in its township at Pune.
The stock rose as much as 6.67% to Rs 384 on the BSE.
In a regulatory filing, Kolte Patil said KKR has committed Rs 193 crore in its Kolte-Patil I-Ven Townships (Pune) Ltd (KPIT), which is a joint venture of Kolte-Patil and ICICI Venture Funds Management Company.
KPIT is developing 'Life Republic' a 383-acre township located in Pune's IT hub, Hinjewadi.
The JV will utilise the funds from this investment to attain
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