IFC fires Rs.150 cr in Ashiana Housing

IFC, the investment arm of World Bank, in a recent move has decided to invest Rs.150 crore in the residential housing projects belonging to Ashiana Housing. In this connection, Ashiana Housing Ltd (AHL) and International Finance Corporation (IFC) have entered into an agreement to co-invest in the upcoming affordable and middle income residential projects including in senior living projects. The agreement envisages investing the amount on a project to project basis whereby IFC, representing 40% of the capital required by a project. The remaining 60 per cent of the capital required, i.e. Rs.225 crore, will be contributed by AHL. The investment of IFC will primarily be in the form of non-convertible debentures for identified projects with returns linked to specific projects, IFC said in a statement.

Published: 03 April 2018