Brigade falls on denying fund raising plan/news06012012

Brigade Enterprises denied media reports of planning to raise funds through the private equity route.

This news led to fell in shares of the company over 6%, touching the day's low of Rs44.95. Till now, over 3,752 shares have traded on the BSE as against the two-week average volume of 8,133 shares.

As per reports, Brigade Enterprises was looking at offloading part of its stake in a commercial project named Summit Brigade Metropolis in the Whitefield area of Bangalore. The project has 800,000 sq ft of built-up area and is spread over two towers. Brigade Enterprises was asking a price of around Rs4,000 per sq ft for the commercial space, reports added.
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