Country's second-biggest developer, Unitech Limited has raised $300 million from international investors for its $600 million Unitech International Real Estate Fund.

The funds raised by the company will be used to finance residential projects of Unitech.  

According to sources, an European pension fund, a Japanese bank and some Europe-based HNIs have invested in the Unitech fund. This is the second major international fund raising exercise by the company.  

In late 2006, the company had raised $700 million by floating a fund in Isle of Man and listed the fund on the Alternative Investment Market of the London Stock Exchange (LSE).  

Apart form this, the company is also looking at raising $300 million from the international investors by September, in its second tranche.

Recently, global investor Lehman Brothers invested Rs 740 crore in Unitech's Santacruz project in Mumbai.

Unitech’s scrip touched a 52-week low of Rs 135.10 on BSE on Yesterday before closing at Rs 137, down 11% from the previous close. The stock closed today at Rs 143. It touched an intraday high and low of Rs 148 and Rs 140 respectively.