Unitech Corporate Parks (UCP) has put its 3.6 million sq ft IT SEZ in Gurgaon on sale and is in talks with US private equity firm Blackstone, Singapore-based Mapletree, GIC and Kotak Realty Fund who have shown interest in buying the asset. The enterprise value of the asset is between Rs 2,700 crore and Rs 3,000 crore, of which Unitech will get around Rs 1,000-1,200 crore as it owns 40 per cent of the asset.
The company has appointed international property consultancy Jones Lang La-Salle to run a bid process which will start in the next few weeks. Earlier, the company's board wanted to wait till the asset is more mature before putting it up for sale.
Now, it is more receptive about selling this asset as 75 per cent of it is close to completion, said sources. Unitech will use the money to reduce its debt that stood at Rs 5,642 crore as on March 31, 2013.