Private Equity

PE-RE Fund Investments

Nisus Finance, Phoenix ARC invest Rs.100-Cr in Ahmedabad commercial project

Economic Times  

Nisus Finance Group (via RESO-1 Fund) and Kotak Mahindra Group's asset reconstruction arm Phoenix ARC have invested nearly INR 100 crore in a late-stage commercial project Swaminarayan Business Park in Ahmedabad's Narol locality. The investment will help exit the loans of the erstwhile lender DHFL. Swaminarayan Business Park is owned by Dharmadev Group through its development entity MH Infraprojects in Ahmedabad's Narol locality. The project spread over a land parcel of nearly 18,000 metres with 5.24 lac sq ft of saleable area. It is spread across 6 commercial blocks and nearly 80% of the project is complete.