HDFC Capital, Cerberus partner to form special situations platform ANI | Updated: Apr 02, 2021 10:59 IST
The platform will seek to purchase inventory and provide last-mile funding for under-construction residential projects across India among other real estate-related opportunities.
The development of platform is in response to a series of shocks to Indian market that have created a significant need for capital. Many buyers have been unwilling to fund projects in advance of completion while traditional financing channels have come under severe pressure.
The platform intends to partner with quality developers to provide capital solutions and expedite project construction and completion.
HDFC Chairman Deepak Parekh said lack of buyer confidence in the ability of developers to complete projects combined with a slowdown in funding for real estate projects has resulted in developers being starved of capital to complete on-going projects.
April 01, 2021
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HDFC Capital Advisors and an affiliate of Cerberus Capital Management have partnered to target the creation of a special situations platform focused on high-yield opportunities in the Indian residential real estate sector.
“The platform will seek to purchase inventory and provide last-mile funding for under construction residential projects across India, among other real estate-related opportunities,” the companies said in a statement on Thursday.
The development of the platform comes as a response to the series of shocks to the Indian residential real estate market that have created a significant need for capital, it further said, noting that many buyers have been unwilling to fund projects in advance of completion while traditional financing channels have come under severe pressure.
HDFC Capital Advisors Ltd. and an affiliate of Cerberus Capital Management L.P. have partnered to make investments in under-construction projects facing fund crunch. The platform will seek to purchase
HDFC Capital and Cerberus Partner to Form a Special Situations Platform for the Indian Residential Real Estate Sector
Posted On: 2021-04-01 08:44:50 (Time Zone: Arizona, USA)
HDFC Capital Advisors Limited ( HDFC Capital ) and an affiliate of Cerberus Capital Management, L.P. ( Cerberus ) have partnered to target the creation of a special situations platform (the Platform ) focused on high-yield opportunities in the Indian residential real estate sector. The Platform will seek to purchase inventory and provide last-mile funding for under construction residential projects across India, among other real estate-related opportunities.
The development of the Platform is in response to a series of shocks to the Indian residential real estate market that have created a significant need for capital. Many buyers have been unwilling to fund projects in advance of completion while traditional financing channels have come under severe pressure. The Platform intends to partner with qual
SC Dismisses ED Petition for Attachment of Satyam Computer s FDs Worth Rs822 Crore
Moneylife Digital Team
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The Supreme Court (SC) has dismissed a special leave petition (SLP) filed by the enforcement directorate (ED) for attaching fixed deposits (FDs) worth Rs822 crore of erstwhile Satyam Computer Services Ltd.
In a regulatory filing, Tech Mahindra Ltd, who took over Satyam Computer Services in 2012, says, The SC vide order dated 26 February 2021 has dismissed the SLP filed by the Directorate of Enforcement, Hyderabad, for provisional attachment of fixed deposits aggregating to Rs822 crore pursuant to Section 5(1) of Prevention of Money Laundering Act (PMLA), 2002, of erstwhile Satyam Computer Services.