SWAMIH Investment Fund I has made complete exit from its investment in construction of CCI Rivali Park Wintergreen housing project in Mumbai. The first exit for the fund, which achieved it’s twin targets – complete the project and redeem its investment successfully, finance ministry said in a tweet.
“Project was launched in 2010 and got stalled due to lack of funds. No hope for desperate homebuyers until SWAMIH investment in Feb-2020. Project received occupation certificate in April-2021 despite two Covid lockdowns,” the finance ministry said in its tweet.
SWAMIH Investment Fund I announces it’s first complete exit from an investment made for construction of CCI Rivali… https://t.co/k9RlDWbN5D
— Ministry of Finance (@FinMinIndia) 1635394079000
SWAMIH has given final approval to 95 projects sanctioning more than Rs 9,500 crores which will complete over 57,700 homes. It has already completed over 1500 homes in 7 projects and is on track to complete at least 10,000 homes every year.
SWAMIH is now India’s largest social impact Fund. This SBICap Ventures managed Fund has one of the largest domestic real estate private equity teams focused only on funding and monitoring completion of stressed housing projects.Internet Explorer Channel Network