Mumbai-based Damji Shamji Realty raised ₹95 crore from the bond market in mid-December despite being assigned a D rating by India Ratings and Research, according to a stock exchange disclosure. ASK Real Estate Special Opportunities Fund IV was the sole investor, a senior company official confirmed.
Damji Shamji Realty Fund Raise: Recently, a real estate company with a D rating (indicating default) raised ₹95 crore from the private placement bond market - sending early signs of the evolution of the junk bond market in India.