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Ncds Preferred Route For Government Aif To Invest In Stuck Realty Projects
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Ncds Preferred Route For Government Aif To Invest In Stuck Realty Projects
Publish on : 2019-12-28 11:34:51
Mumbai: The Government’S Alternate Investment Fund (Aif) Worth Rs 25,000 Crore, Aiming To Offer Last Mile Funding To Stuck Housing Projects, Will Be Investing In Them Through Non-Convertible Debentures (Ncds), And Hopes To Generate 15-17% Returns, Said Two Persons With Direct Knowledge Of Developments. The Aif Will Prefer To Invest In Stuck Projects Through The Ncd Structure. Besides The Preference To This Ncd Instrument, The Aif Expects To Fetch Returns Around Mid-Teens Through Such Investments,” Said One Of The Persons Mentioned Above. While The Fund Will Preferably Offer Last-Mile Financing For Projects That Are Stuck In The Absence Of Funding Options, It Expects The Project Proponent To Have Incurred At Least 30% Construction Cost Already. The Fund Structure Has Not Defined The Project’S Cash-Flow Cover For The Loans To Be Provided And Will Be Determined On A Case-To-Case Basis. As The Objective Of The Stress Fund Is To Provide Support To Complete Stuck Projects, The Tenure And Repayment Will Be Structured As Payable When The Project Gets Ready And Is Able To Generate Funds For Such Repayment.

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