Private Equity

PE-RE Fund Investments

IndusInd invests Rs.140-Cr in Sushma Group projects; DMI Finance to exit with Rs.25-Cr

Economic Times  

IndusInd Bank has invested INR 140 crore in Sushma group's commercial projects in Chandigarh. IndusInd Bank has committed INR 50 crore to Sushma Capital, of which INR 25 crore is fresh funding, and the balance will be used to give exit to DMI Finance. Additionally, IndusInd Bank has committed INR 90 crore fresh funding for Sushma Pristine. Sushma Capital and Sushma Pristine are under construction commercial projects with a combined area of 1.47 lakh sq ft of office spaces and 7.69 lakh sq ft of retail spaces which are a mix of fine dining, food courts, fashion brands, and entertainment zones. Phase 1 of Sushma Capital is already operational while the handing over of possession of phase 1 of Sushma Pristine will start in 2024. Sushma Group had also raised INR 50 crore from State Bank of India for its under-construction holiday homes project in Dharampura.