Private Equity

PE-RE Fund Investments

Govt's SWAMIH fund invests Rs.150-Cr in Tridhaatu's residential project in Mumbai's Chembur

Economic Times  

The government-backed last-mile financing platform Special Window for Completion of Construction of Affordable and Mid-Income Housing Projects (SWAMIH I) has invested over INR 150 crore in realty developer Tridhaatu Realty & Infra to complete its residential project in the Chembur suburb of Mumbai. This new funding is expected to help the developer complete the construction of the project with three towers spread over 1.73 acre. The funding will be utilised for construction and paying statutory development premiums to the government authorities. The project also has Piramal Fund Management's exposure worth INR 200 crore that was extended in 2017, when the developer had acquired the land parcel in an outright transaction. As per the terms, SWAMIH's investment will hold senior charge for the exit from the project once it gets completed and the existing investor will get repaid after that.