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Macrotech Developers raises 740 Cr from 14 Anchor Investors
Posted On: 2021-04-06 10:21:22 (Time Zone: Arizona, USA)
Affordable and Mid Income Housing focused Macrotech Developers Limited also known as Lodha Developers has raised Rs. 740 crore from 14 anchor investors. The company informed the bourses that it has allocated 1.52 Cr shares at Rs. 486 per share on Tuesday, April 6, 2021 to anchor investors.
12 Foreign Portfolio Investors who participated in the anchor were Capital Group; Nomura; Ivanhoe Cambridge, real estate arm of CDPQ; Wellington Asset Management,; Abu Dhabi Investment Authority, Abu Dhabi s sovereign fund; Platinum Asset Management, Marshall Wace, Brookfield Asset Management, Segantii, York, Oxbow and Discovery. These investors were allocated approximately 1.45 Cr. shares for approximately Rs 705 Cr.
HDFC Capital, Cerberus set to pair up for $1 billion real estate investment fund
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Synopsis
The fund, to be set up through an affiliate of New York-headquartered Cerberus Capital, will target stressed projects, purchase inventory and provide last-mile funding for under-construction residential projects.
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HDFC Capital and global alternative investment major Cerberus Capital Management LP have formed a partnership to create a fund that will focus on high-yield opportunities in the Indian residential real estate sector. The size of the proposed fund will be upwards of $1 billion, said people familiar with the development.
The fund, to be set up through an affiliate of New York-headquartered Cerberus Capital, will target stressed projects, purchase inventory and provide last-mile funding for under-construction residential projects.
Highlights
Buyers will get flats by February next year.
Four more builder projects expected to get money soon.
New Delhi: The Central government has sanctioned Rs 165 crore for the completion stalled builder projects in Greater Noida, that will fulfill the housing dream of 900 buyers, as per a newspaper report.
Under the project, to be completed in two phases, buyers will get flats by February next year. Four more builder projects are expected to get money soon, that will enabling in construction of about 2500 more flats, a Hindustan report said.
In order to give relief to homebuyers of stalled projects, a Special Window for Completion of Affordable and Mid-Income Housing (SWAMIH investment fund) has been created for funding stalled projects that are net-worth positive, including those projects that have been declared as Non-Performing Assets (NPAs) or are pending proceedings before the National Company Law Tribunal under the Insolvency and Bankruptcy Code. SWAMIH investment
Analysis | Budget 2021 mildly positive for realty sector, most expectations remain unmet
Some positive impact is also expected on Real Estate Investment Trusts, given the permitted flexibility to raise debt from Foreign Portfolio Investors, which broadens funding avenues and enables lower cost financing.
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The real estate industry was expecting major support, demand boosting announcements in the Budget, but barring extension of a few existing sops; and broadening of REITs financing avenues, most expectations have remained unmet. The industry has been grappling with steep demand fall during the first nine months of the current financial year (FY2021), wherein housing unit sales declined by 35 percent in the major metro markets as compared to the corresponding period of the previous financial year. Though there has been some recovery from the lows of the quarter ending June 2020, when sales declined by 67 percent year on year, the sales are yet to reach the