Adarsh realty secures Rs. 1,000-cr infusion

    Adarsh Developers
    In order to fast-track the construction work on the mega realty project, Adarsh Developers is all set to secure Rs. 1,000-cr financing from three investors to help the developer start a new set of residential projects that has been tied up in the recent past. Adarsh, which is based in Bengaluru, has already signed agreements to raise Rs. 350-cr each from Edelweiss Group and HDFC Realty Fund. The remaining Rs. 250-cr is coming from non-banking finance company Altico Capital and the group is generating Rs. 300-cr from investment bank JM Financial shortly. The company will raise the entire amount through structured debt, something that is a common practice with most builders as it provides easy capital but have a higher rate of interest. Structured debt securities are complex debt instruments created to meet needs that cannot be met from traditional financial instruments available in the markets, claimed an official spokesperson.
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