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Friday, May 25, 2007

Sahil Group plans to go public with IPO

Pune-based Sahil Group has today announced that its group company Sahil Resorts, Agrifields and Farms Pvt Ltd has now become a public limited company. This company has interest in hospitality sector and has properties such as SAHIL SAROVAR Portico in Lonavala and is currently working on Asia’s largest Spa in association with Radisson Group of Hotels & Mandara Spa at Alibaug.

Speaking on this development Vinay Phadnis, chairman & managing director, Sahil Group said, “This is the result of the faith reposed on us by our patrons and stakeholders. As a growing company we intend to take on more responsibility and plan bigger things. In this regard, we would like to take a step forward and go public soon via the IPO route. I would like to mention here that EXIM bank has invested in our company’s debentures.”

Phadnis further unveiled Sahil’s plans to develop five star luxury hotels in Pune, Navi Mumbai, Delhi and Goa investing around Rs 1000 crore in next 3 years. Most of them will be funded by the money generated through the IPO.

About sahil group

Sahil Group has three main areas of interest viz Spa & Resorts, Real Estate and IT. In the next five years Sahil has plans to invest Rs 100 crore in various real estate projects across destinations in India and abroad (Sri Lanka) to develop Spas & Resorts.

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