Paving the way for the smooth completion of its real estate project, the Noida-based builder Lotus Greens is all set to secure Rs. 450cr funding infusion from a private equity funds Clearwater Capital and SSG Capital Management to be invested in the sports city township in Noida, said sources claiming that Lotus Greens is acquiring over 300 acres in Noida's Sector 150 for around Rs 2,500cr and will use the funding infusion to make the first tranche of payment to Noida Authority. The developer will issue non-convertible debentures (NCD) to the non-banking financial company (NBFC) of Clearwater Capital and to SSG Capital Management. It may be recalled that the Noida Authority had awarded the bid to build the sports city to Lotus Greens in July and that the upcoming project will offer residential as well as recreational facilities, including a nine-hole golf course, they added.
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