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Ashiana Housing
BSE: 523716NSE: ASHIANAISIN: INE365D01021

29th-Mar-2018 21:13Source: BSE

Ashiana Housing - Sub: Investment Agreement With IFC (International Finance Corporation)

Ref.: Company No. : 523716

Ashiana Housing Limited (AHL) and International Finance Corporation (IFC), a part of World Bank Group, have entered into an agreement to co-invest in upcoming affordable and middle income residential projects including in senior living projects. The agreement envisages a total investment of INR 150 crores on a project to project basis by IFC, representing 40% of the capital required by a project. The remaining 60% of the capital required, i.e. INR 225 crores, will be contributed by AHL. The investment of IFC will primarily be in the form of non-convertible debentures for identified projects with returns linked to project specific returns.

Please take this information on your record.

Thanking you,
For Ashiana Housing Ltd.

Nitin Sharma
(Company Secretary)

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