Cornerstone set to reboot with ₹1,700-crore funding from Kotak and land sale
Cornerstone, a land holding and development company, is working on a fund-raising plan which includes a Rs 1,700-crore capital raise from Kotak Alternate Asset Managers Ltd (KAAML) and land monetisation, according to people aware of the matter, as it looks to expand operations and finance new and stalled projects. Bengaluru-based Cornerstone is in talks to raise the capital from Kotak across key residential and commercial projects in Bengaluru and has signed a term sheet, too, the people cited earlier said. The funding, being routed through structured non-convertible debentures, is aimed at providing the company with capital for growth to support…