new delhi awaiting sebi clearance for an initial public offer the punebased realty firm kumar urban development today said it is planning to raise up to usd 800 million through private equity placements in various special purpose vehicles spvs next fiscalwe are almost close to signing a deal with an overseas private equity firm for raising up to usd 100 million the deal is likely to be signed in april company chairman and managing director lalit kumar jain told ptijain also said the company plans to raise a total of usd 800 million next fiscal by diluting stakes in various spvs created to execute residential and commercial projects across mumbai pune and bangalorewe are currently developing projects spanning over 36 million sqft area in these cities and will soon be launching 12 more projects over 15 million sqft area he saidin the realty business for the past four decades kumar urban has land banks in hyderabad and nagpur where it plans to develop residential projectskumar urban is awaiting approval for an ipo from the securities and exchange board after filing the draft red herring prospectus last octoberwe plan to raise rs 450 crore for land acquisitions construction and for repaying some loans we are waiting for sebi nod jain said