SPCL, a flagship company of the Shapoorji Pallonji Group, to raise $30 million from International Finance Corporation (IFC) to fund its new projects in the affordable housing space. The company plans to raise $200 million to develop 15-17 million square feet in small metros.Shapoorji Pallonji &amp; Co. Ltd. (Affordable Housing Platform) is in civil construction and real estate development business. SPCL plans to raise up to $200 million to establish a platform that will develop 15-17 million square feet of affordable housing projects across India over the next eight years. SPCL will contribute 30 per cent of the capital, and investors, including IFC will contribute the rest.IFC's investment would provide long tenor financing, which is not readily available on reasonable terms, to the affordable housing sector in particular.The company headquartered in Mumbai and planning to build sites for IFC-financed affordable housing projects are expected to include, but are not limited to, large .

International Finance Corporation (IFC) will invest $30 million in&nbsp;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&nbsp;in small metros over the next eight years.&nbsp; 

	SPCL will contribute 30% of the capital, and investors, including IFC will contribute the rest. 
	 
	Shapoorji Pallonji &amp; Co. Ltd. (Affordable Housing Platform) is in civil construction and real estate development business. 
	&nbsp;

SPCL, a flagship company of the Shapoorji Pallonji Group, to raise $30 million from International Finance Corporation (IFC) to fund its new projects in the affordable housing space. The company plans to raise $200 million to develop 15-17 million square feet in small metros.Shapoorji Pallonji & Co. Ltd. (Affordable Housing Platform) is in civil construction and real estate development business. SPCL plans to raise up to $200 million to establish a platform that will develop 15-17 million square feet of affordable housing projects across India over the next eight years. SPCL will contribute 30 per cent of the capital, and investors, including IFC will contribute the rest.IFC's investment would provide long tenor financing, which is not readily available on reasonable terms, to the affordable housing sector in particular.The company headquartered in Mumbai and planning to build sites for IFC-financed affordable housing projects are expected to include, but are not limited to, large and s

IFC plans to invest $30 million in SPCL

SPCL will use the funds to support its affordable housing space

More From This Section

Kumar Mangalam may join the Indian e-tail bandwagon

Soft drinks, power among high water-guzzling industries

Micromax founder Sharma to launch new phone brand

Coal India chief selection likely next week

Explore News