Private Equity

PE-RE Fund Investments

Govt's SWAMIH Fund invests Rs.159-Cr in Thane housing project

Economic Times  

The government-backed and SBICAP Ventures-managed SWAMIH Fund (via SWAMIH I) has invested INR 158.50 crore in a residential-led mixed-use project in Thane's Ghodbunder Road near Mumbai. The investment will lead to revival of the stalled project consisting of seven towers including a commercial building. The project has over 1,076 units. The support from SWAMIH I will provide relief to over 500 home buyers who have been waiting for their homes. The project Pushpanjali Residency Phase 3 was started in 2010 and had stopped multiple times due to delay in approvals, lack of funds and cost escalations following the complications related to the outbreak of Covid-19 pandemic.