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INDIS raises Rs 1,000 crore from Brookfield Asset Management, Real Estate News, ET RealEstate

INDIS raises Rs 1,000 crore from Brookfield Asset Management, Real Estate News, ET RealEstate
NEW DELHI: INDIS (formerly INCOR Group) has raised Rs 1,000 crore from Brookfield Asset Management for its five residential projects under development in South India, the company said in a media release. The projects have a development potential of about 6.5 million sq ft.

The investment has been made through Brookfield’s Special Investment Fund (BSI) and is in the form of structured capital with base returns and an equity upside.

The deal will fuel INDIS’ strategy of aiming to grow their housing portfolio in the mid-market segment in South India based urban locations.

“This transaction will help us grow our portfolio of operating projects at a faster pace while creating more value for stakeholders, especially our customers. A portion of the deal will also be used to give an exit to some of the current investors,” said G Anand Reddy, founder, INDIS.

This investment provides it with additional liquidity to accelerate the development of projects in a fundamentally strong residential market, the company said.

Brookfield’s BSI Fund was set up to invest in large-scale, non-control, equity & equity-like investments with a sector agnostic strategy.


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