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Piramal Enterprises seeks funds from investors for real estate projects

Tuesday, 14 Jul 2020
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Piramal Enterprises is seeking new investors including hedge funds to help raise cash and fund working capital for real estate projects, so that they don’t remain half-built.

The company is looking to bring in investors alongside its real estate-focused shadow bank unit to help complete the projects. The focus is on developers the lender has already provided loans to.

Bringing in the right co-investor will allow a continued flow of working capital to the developer, which will in turn ensure that the project is completed and asset quality is conserved.

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