Download Unicorn Signals App

Powered By EquityPandit
Latest News

Piramal Offers Rs 2000 Crore Funding to Realty Projects

Piramal Group and IIFL Wealth Management Ltd said that they will co-invest in an alternative investment fund (AIF), which will back projects that are at an advanced stage and need last-mile funding. The AIF with a target corpus of Rs 2,000 crore, will provide capital to established developers in key cities. The market presents many opportunities today for last-mile finance in projects that require a minimum amount of funding for their completion, Piramal said in a release.
This will see Piramal Group facilitating external capital (on a fund or co-investment basis) alongside its lending business and will enable it to continue to further grow the lending business through a new co-investment or co-origination model, the company said.
‘Piramal’s deep domain expertise in real estate and IIFL Wealth’s ability to seize the best market opportunities have resulted in well-structured investment idea which will provide clients with an ideal risk-adjusted return,’ said Karan Bhagat, Founder, MD & CEO, IIFL Wealth Management.
Read EquityPandit’s Nifty Outlook for the Week

Get Daily Prediction & Stocks Tips On Your Mobile