Piramal arm offers $192 million in financing for Omkar project

MUMBAI (Reuters) - Piramal Fund Management, a unit of Piramal Enterprises Ltd, said on Monday it would provide 12 billion rupees (about $192 million) in financing for a luxury residential complex in central Mumbai being developed by Omkar Group.

About 4 billion rupees will be used to refinance existing debt, while the rest will be provided over the next two years, Piramal said in a statement.

The project, comprising three high-rise towers spread over 9 acres, will be completed by the end of 2017, it said.

($1 = 62.6400 rupees)

(Reporting by Indulal PM; Editing by Gopakumar Warrier)