JM Financial to finance real estate ventures via AIF, syndicates

05 Jun 2024 CW Team

JM Financial Group has announced its decision to support real estate projects through the alternative investment fund (AIF) route and syndications, shifting away from its previous on-balance business model.

During an investor call, Vishal Kampani, the non-executive vice chairman of JM Financial, revealed that the group plans to establish a strategic AIF dedicated to land and approval financing. He mentioned that they will utilise their client relationships to facilitate funding through this channel.

Kampani further stated that the group will transition towards a distribution and syndication business led by investment banking. He pointed out that real estate developers are finding it more convenient to secure early-stage financing from AIFs rather than non-banking financial companies (NBFCs).

Kampani explained, during the call that conducting real estate financing through an AIF platform is preferable due to various factors, including pricing, regulatory considerations, and the availability of longer-term capital with relaxed interest servicing terms.

The group intends to realign its wholesale credit businesses, encompassing real estate, bespoke, distressed credit, and financial institutions financing. The wholesale lending book decreased to Rs 49.17 billion by March 31, marking a 42% decline from Rs 84.45 billion the previous year.

Infrastructure Energy

14 Oct 2025

Mizoram To Build Rs 139 Billion Pumped Storage Power Plant

Mizoram Chief Minister Lalduhoma on Friday announced plans to construct a 2,400 MW pumped storage hydroelectric power plant in Hnahthial district, marking a major step towards achieving energy self-sufficiency in the state. Addressing the Mizo Students’ Union general conference in Hnahthial town, the Chief Minister said the plant would be developed across the Darzo Nallah, a tributary of the Tuipui river. Once operational, the project is expected to play a pivotal role in meeting Mizoram’s rising electricity demand and reducing dependence on imported power. Officials from the State Power..

Centre Plans Nationwide Opening Of Power Retail Market

India is preparing to open up its retail electricity market to private companies nationwide, effectively ending the long-standing monopoly of state-run power distributors in most regions, according to a draft bill released by the Union Power Ministry on Friday. The move will enable major private sector players — including Adani Enterprises, Tata Power, Torrent Power, and CESC — to expand their presence across the country’s electricity distribution landscape. A similar reform attempt in 2022 had faced strong opposition from state-run distribution companies (discoms), which currently dom..

CEA Sets 100 GW Nuclear Target For India By 2047

In a landmark step marking its 52nd Foundation Day, the Central Electricity Authority (CEA) unveiled an ambitious roadmap to develop 100 gigawatts (GW) of nuclear power capacity by 2047, aligning with India’s long-term Net-Zero commitment and energy security objectives. The event, held at the Central Water Commission auditorium in New Delhi’s R.K. Puram, was attended by Pankaj Agarwal, Secretary, Ministry of Power, who served as the Chief Guest. The roadmap sets out a detailed plan to expand India’s nuclear capacity from its current level of approximately 8,180 MW as of early 2025, outl..