Private Equity

PE-RE Fund Investments

Sowparnika Projects raises Rs.40-Cr debt from ASK Finance; Edelweiss to exit

Economic Times  

ASK Finance, the NBFC vertical of ASK Group, has closed a debt transaction of INR 40 crore with Bengaluru-based Sowparnika Projects & Infrastructure, an affordable housing builder. The investment has been made in Sowparnika Ashiyana, a mid-income affordable project near Whitefield, with over 750 homes. The raised capital will be used for the construction and give exit to Edelweiss. The Sowparnika group has developed over 5.2 million sq ft of affordable homes across Bangalore, Mysore, Coimbatore & several locations across Kerala. It has handed over 7500 homes. ASK group has over USD 9.3 Billion of assets under management (AUM) as of 31st December 2022.