Piramal Capital & Housing Finance Sells Mumbai Property for ₹187 Crore to Shoquba Realty
Piramal Capital & Housing Finance has sold its immovable property in Santacruz East, Mumbai, to Shoquba Realty for ₹187 crore. The company also raised $150 million through a global bond sale.
Piramal Capital Housing FinanceShoquba RealtyMumbai PropertyGlobal Bond SaleSustainability Bond IssuanceReal Estate MumbaiOct 05, 2024
In a separate regulatory filing, the company also announced that it has raised $150 million through a global bond sale. The bonds will be issued at a yield of 7.80% and will have to be repaid in 3.32 years. This fundraising effort is a testament to the company's ability to access global capital markets and raise funds at competitive rates.
Piramal Enterprises is a leading business conglomerate with a diverse range of businesses across pharmaceuticals, financial services, and real estate. The company has a strong track record of creating value for its stakeholders, and this sale and fundraising effort are consistent with its strategic objectives. In July 2024, PCHFL had raised USD 300 million from a sustainability bond issuance and achieved a 0.87% improvement in pricing as against the 7.950% for the bonds issued in July 2024. This demonstrates the company's commitment to sustainable financing and its ability to access capital at competitive rates.
Frequently Asked Questions
Who is Piramal Capital & Housing Finance?
Piramal Capital & Housing Finance is a wholly-owned subsidiary of Piramal Enterprises, a leading business conglomerate with a diverse range of businesses across pharmaceuticals, financial services, and real estate.
What is the value of the property sold by Piramal Capital & Housing Finance?
The property was sold for a total consideration of ₹187 crore.
Who is the buyer of the property?
The buyer of the property is Shoquba Realty.
What is the yield on the bonds issued by Piramal Capital & Housing Finance?
The bonds will be issued at a yield of 7.80%.
What is the repayment period for the bonds?
The bonds will have to be repaid in 3.32 years.
Tags:
Related News Articles
Foreign Investment Fuels India's Real Estate Boom in Q2 2024
India's real estate sector has witnessed a record-breaking growth in Q2 2024, driven by a surge in foreign investment. Despite a decline in commercial investments, the overall market remains positive.
MahaRERA Makes it Mandatory for Developers to Disclose Amenities Details in RERA Registered Projects
Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued an order to ensure transparency and efficiency in real estate projects
Axis Commercial Real Estate Fund Makes Maiden Investment in Chennai's Fintech City
The fund targets high-quality office spaces in eight key markets to attract top-tier tenants, partnering with global developer Tishman Speyer.
Vinhomes: Revolutionizing Vietnam's Real Estate Market for Global Investors
Vietnam's real estate market is showing signs of robust recovery, making it an attractive destination for both local and international investors. Vinhomes has emerged as a key player, driving growth and setting new benchmarks in the industry.
Real Estate Agents Mistaken for BMC Officials, Attacked and Shocked in Andheri West
Mumbai: Four real estate agents visiting Bhardawadi in Andheri West were attacked, stripped, and subjected to electric shocks by property owners who suspected them of being BMC informants. The incident has led to the arrest of three suspects.
Fresh Investigation Ordered in Real Estate Cheating Case Involving Indian Cricket Coach Gautam Gambhir
A Delhi court has ordered a fresh investigation into a real estate cheating case involving former cricketer and current head coach of the Indian cricket team, Gautam Gambhir. The court set aside the discharge of Gambhir and others, citing inadequate expre