BGO and Aditya Birla Sun Life AMC extends ₹350 crore debt funding to Namo Realtech
BGO
and
Aditya Birla Sun Life AMC
have provided ₹350 crore in debt funding to
Namo Realtech
to fund its expansion in the real estate sector.
Mohit Jain
, managing director at Namo Realtech said, "As we continue to scale, this investment will allow us to accelerate our future plans with regard to new projects that are already in the pipeline and at fairly advanced stages of discussion with other potential collaborators."
With the Namo Realtech deal, the platform has committed $100 million across 10 deals with 7.8 million sq ft of area under management. The company in collaboration with
Max Estates
is also planning to launch a residential project in
Gurugram
.
AZB & Partners, Quantum and Trilegal acted as advisors on the transaction.
BGO and Aditya Birla Sun Life AMC had collaborated to form a structured credit investment vehicle in June 2022, offering financing solutions f projects. So far they have committed funding to nine projects across five cities. The platform targets to achieve USD 1 Billion of deployed capital under this strategy by 2028.
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