INDIS raises Rs 1,000 cr from Brookfield for five residential projects

INDIS Group has raised Rs 1,000 crore from Brookfield Asset Management Inc for its five residential projects in southern India. The residential projects have a development potential area of 6.5 million sq ft. The project's investment has been made through Brookfield's Special Investment (BSI) Fund in the form of structured capital with base returns and an equity upside. It will catalyse INDIS's strategy of expanding its housing portfolio in the mid-market segment in southern India-based urban regions. Founder of INDIS Group, G Anand Reddy, said that the BSI investment fund would help to grow its market portfolio of operating projects at a faster speed and also provide more value for the stakeholders and customers. A part of the deal will also give an exit to a few current investors. INDIS added that the deal provides the company with additional liquidity to promote the development of projects in a strong residential market. The BSI Fund was made for investing in large-scale, non-control and equity and equity-like investments with a sector agnostic strategy. Image Source Also read: Shapoorji Pallonji to raise Rs 3,655 cr, plans clean slate by FY22