FUNDS PICK UP 13% IN CONSTRUCTION FIRM SIMPLEX INFRA

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A mix of foreign and domestic funds such as GE Capital, Deutsche Asset Management, SBI, HSBC, Tata MF and UTI MF have picked up a 13% stake in construction firm Simplex Infrastructure for Rs 400 crore. They acquired the stake through the QIP route. The company has placed the shares with the funds at Rs 625 per share. "We will use funds for capex to purchase construction equipment and other expansion activities," said Simplex Infra executive director NK Kakani.

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