The trend of property developers raising private debt from global credit funds is catching up, as domestic non-banking financial companies (NBFCs) are focusing on shedding risky real estate loans and cleaning up their balance sheets after the liquidity crunch caused by IL&FS defaults earlier.
Though developers raised anywhere between Rs 150 crore and Rs 750 crore from global funds last year, now ticket sizes of loans have gone up, experts said.
In two separate deals, Bengaluru-based property developer Embassy Group has raised Rs 1,200 crore from the credit arm of global private equity investor Bain Capital, and Mumbai-based
Embassy Group, Kalpataru tap global funds for over Rs 2,000 crore
Embassy raises Rs 1,200 crore from Bain Capital; Kalpataru Rs 850 crore from PAG
 "real estate, realty, construction, sales, people, flats, buildings, concrete, vendors, developers, builders")
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Embassy is in the final lap of merging with Indiabulls Real Estate to create a large combined entity which will spearhead its residential ventures in the country.
Topics : Embassy group Kalpataru fundings Real estate firms
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