Country Club Plans Pan India Foot Print, Undertakes Major Expansion

Thebullishtrends: Country Club shares are trading at Rs.624(+Rs.6.75). Country Club India Ltd has announced that the company, is on an acquisition spree having brought properties in cities such as Chennai, Pune, Delhi, Cochin, Kolkatta, Ahmedabad, Vadodara and Surat during the past two months.The acquisitions amounting to Rs 96.04 crores are a part of the strategic expansion plan undertaken by the Company to consolidate and strengthen its pan-India footprint.

The Company is currently owns/operates 33 properties across the country.Armed with war chest of Rs 486 crores through a recently completed GDR/QIP issue, the Company has set a scorching pace for itself. The GDR/QIP issue, priced at Rs 770 per share, evinced tremendous response. Leading global investment institutions such as Fidelity Investment International picked up 9.88% equity in the company, while Goldman Sachs International and New Vernon picked up 6.59% and 4.94 % equity respectively.