IFC plans to invest $30 million in SPCL

SPCL will use the funds to support its affordable housing space

International Finance Corporation (IFC) will invest $30 million in SPCL, the flagship company of the Shapoorji Pallonji Group.

SPCL will use the investment to fund its new projects in the affordable housing space.

The company plans to raise $200 million to develop 15-17 million square feet of affordable housing projects in small metros over the next eight years. 

SPCL will contribute 30% of the capital, and investors, including IFC will contribute the rest.

Shapoorji Pallonji & Co. Ltd. (Affordable Housing Platform) is in civil construction and real estate development business.