Private Equity

PE-RE Fund Investments

SP Group firm raises Rs.505-Cr from Pacific Alliance Group

Economic Times  

Mumbai-headquartered Ricardo Constructions, a wholly-owned company of the Shapoorji Pallonji Group, has raised INR 505 crore from Asia Pragati Strategic Investment Fund, managed by Pacific Alliance Group (PAG), to complete its existing projects and repay debt.Ricardo Constructions will repay INR 405 crore debt taken from a Piramal group company and HDFC Bank. The remaining funds will be used to complete the construction of a residential project in Mulund, a north-eastern suburb of Mumbai.