Investcorp exits Rs 135-cr structured credit investment in PBEL City

Deal is a milestone for firm's India residential credit biz; Against Rs 1,500 cr raised for this strategy, Investcorp has already made profitable exits exceeding Rs 1,350 crore in gross proceeds

Investcorp, an investment manager specialising in alternative investments, on Wednesday said that it has exited its structured credit investment in Hyderabad-based developer INDIS.

Investcorp Score Fund invested Rs 135 crore into the PBEL City project being developed by INDIS in Hyderabad. The mid-market residential project has seen more than 2,000 homes already handed over to residents as yet.

Ritesh Vohra, partner and Head of India Real Estate at Investcorp India, said: “We have had a really good experience working with G Anand Reddy and his team at INDIS. They are doing a fantastic job in establishing INDIS as an institutional quality developer,