Piramal Fund Management is investing 2,320 crore in Lodha Developers’ signature World Towers project in central Mumbai..The investment could be the single largest debt-financing deal in Indian real estate, reported Mint..Shardul Amarchand Mangaldas advised Piramal Fund Management with a team led by Partners Radhika Pereira and Sapan Gupta..AZB & Partners acted for Lodha Group with a team led by Partner Sai Krishna Bharathan and Senior Associate Sugandha Asthana..A part of this money will be used to repay debt and the remaining will be used to complete construction of the project. Another portion of the funds will be used to offer an exit to HDFC Property Fund, which acquired a 10% equity stake and invested 500 crore in the project’s World One residential tower in 2010, according to Mint.
Piramal Fund Management is investing 2,320 crore in Lodha Developers’ signature World Towers project in central Mumbai..The investment could be the single largest debt-financing deal in Indian real estate, reported Mint..Shardul Amarchand Mangaldas advised Piramal Fund Management with a team led by Partners Radhika Pereira and Sapan Gupta..AZB & Partners acted for Lodha Group with a team led by Partner Sai Krishna Bharathan and Senior Associate Sugandha Asthana..A part of this money will be used to repay debt and the remaining will be used to complete construction of the project. Another portion of the funds will be used to offer an exit to HDFC Property Fund, which acquired a 10% equity stake and invested 500 crore in the project’s World One residential tower in 2010, according to Mint.
