Raymond Realty raises Rs 210 cr from ICICI Prudential Real Estate Development
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Raymond Realty has announced that it has secured Rs 210 crore from ICICI Prudential Real Estate Development Fund. This financial investment will be used for a redevelopment project in the Mumbai Metropolitan Region. The investment will be made through Ten X Realty West Ltd, a subsidiary of Raymond Realty. The collaboration aims to enhance capital efficiency and expedite project timelines.
New Delhi: Raymond Realty on Monday said it has raised Rs 210 crore from ICICI Prudential Real Estate Development Fund to finance a project in Mumbai region.In a regulatory filing, the company informed that its subsidiary Ten X Realty West Ltd has agreed to secure a financial investment of Rs 210 crore from the Fund.
Raymond Realty and the Fund will jointly invest in Ten X Realty West for facilitating the redevelopment for one of its projects in the MMR (Mumbai Metropolitan Region).
The ICICI Prudential Real Estate Development Fund is a scheme of ICICI Prudential Real Estate AIF, a Category II AIF (Alternate Investment Fund).
Harmohan Sahni, Managing Director & CEO, Raymond Realty, said: "This investment allows us to scale rapidly, optimize capital efficiency, and accelerate project timelines while staying firmly committed to our core promise of sharp execution and delivering long-term value to our stakeholders."
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Raymond Realty is one of the leading real estate developers in the country.
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Figures reflect the source report and its stated period. This article is for information and is not investment advice.
