Corporate News 30-Mar-18
Ashiana Housing and IFC to co-invest in residential projects
Ashiana Housing (AHL) and International Finance Corporation (IFC), a part of World Bank Group, have entered into an agreement to co-invest in upcoming affordable and middle income residential projects including in senior living projects. The agreement envisages a total investment of Rs 150 crore on a project to project basis by IFC, representing 40% of the capital required by a project. The remaining 60% 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 project specific returns.
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