Marathon Realty taps JM Financial for ₹500-cr QIP

MARATHON NEXTGEN REALTY, a Mumbai-based developer, is in the process of raising more than ₹500 crore through a qualified placement (QIP) of its shares, said bankers in the know. JM Financial, a top domestic investment bank, is the advisor. The transaction is likely to close early next week, said sources.

- NESIL STANEY

Incorporated in 1978, Marathon is primarily engaged in the business of construction, development and sale of commercial and residential real estate projects. It plans to enter new areas like SEZs, townships, infrastructure development, entertainment and leisure, education, hospitality and the capital markets.