Ahmedabad-based realty player JP Infrastructure Pvt Ltd (JPIPL) is in advance stages of talks with a leading PE fund to raise close to Rs 200 crore. The company is also planning to come out with an initial public offer and had appointed Cushman & Wakefield in December last year for valuation of its assets.
The realtor is aiming to divest about 10 per cent, sources said. The company will have six months to one year’s time to come out with an IPO while making way for the PE firm to exit. Meanwhile, it is planning a mega township project in Ahmedabad, retail malls in Vadodara and Surat, corporate park in Lower Parel in Mumbai.