MYRE Capital proposes to raise Rs 200 mn through structured debt
ECONOMY & POLICY

MYRE Capital proposes to raise Rs 200 mn through structured debt

Over the upcoming quarters, MYRE Capital intends to fund Rs 200 million through structured loans for authorised investors.

The invested funds would be given to a financial institution with a CRISIL rating and RBI registration that offers loans against property to retail investors in semi-urban and rural areas of South India. Collateral cover maintained over 1.5x of receivables will secure the entire corpus.

"Since the debut of our debt vertical last year, we have seen substantial interest from investors in loan options backed by real estate assets," said Aryaman Vir, the founder and CEO of MYRE Capital. Compared to other competing asset classes, alternative real estate investments offer an excellent balance of yield and safety.

The new fund raise requires a minimum commitment of Rs 1.5 million, with an internal rate of return of 11%. (IRR). The investment is a 4-year structured instrument with monthly interest payments and annual principle repayments of 25%. A SEBI Registered Debenture Trustee will oversee this transaction in its entirety.

The company sees a tremendous demand for and development potential for neo-realty products in India, and we plan to scale the structured debt vertical to Rs 35 billion by the end of CY2023, continued Vir. To help the investors diversify their portfolios and build wealth, the company is aiming to deliver them a variety of real estate-related products.

Also read:
Jaypee Infratech's net loss increased to Rs 601 crore in Q3 FY23
InudsInd Bank raises funds to Sushma Group for commercial projects


Over the upcoming quarters, MYRE Capital intends to fund Rs 200 million through structured loans for authorised investors. The invested funds would be given to a financial institution with a CRISIL rating and RBI registration that offers loans against property to retail investors in semi-urban and rural areas of South India. Collateral cover maintained over 1.5x of receivables will secure the entire corpus. Since the debut of our debt vertical last year, we have seen substantial interest from investors in loan options backed by real estate assets, said Aryaman Vir, the founder and CEO of MYRE Capital. Compared to other competing asset classes, alternative real estate investments offer an excellent balance of yield and safety. The new fund raise requires a minimum commitment of Rs 1.5 million, with an internal rate of return of 11%. (IRR). The investment is a 4-year structured instrument with monthly interest payments and annual principle repayments of 25%. A SEBI Registered Debenture Trustee will oversee this transaction in its entirety. The company sees a tremendous demand for and development potential for neo-realty products in India, and we plan to scale the structured debt vertical to Rs 35 billion by the end of CY2023, continued Vir. To help the investors diversify their portfolios and build wealth, the company is aiming to deliver them a variety of real estate-related products. Also read: Jaypee Infratech's net loss increased to Rs 601 crore in Q3 FY23 InudsInd Bank raises funds to Sushma Group for commercial projects

Next Story
Technology

We’re building robots that flow, not just move

Founded in 2021, Flo Mobility is reimagining construction automation with vision-AI robots designed for seamless movement through complex sites. In conversation with CW, Manesh Jain, Founder & CEO, discusses the company’s origin, its LiDAR-free tech stack, and expansion plans in the Middle East and US.What inspired the name Flo Mobility? Why ‘Flo’ and not ‘Flow’?When we started the company in 2021, our focus was on building autonomous navigation systems for robots. Since our work centred around robot movement, ‘mobility’ naturally became part of the name. We wanted to co..

Next Story
Real Estate

We’re committed to setting benchmarks in sustainable luxury living

From a landmark land acquisition in Boisar to ambitious launches across the Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru and Pune, Birla Estates is driving future-ready growth with a strong focus on sustainability, partnerships and premium living, firmly anchored in its LifeDesigned® philosophy. K T Jithendran, Managing Director & CEO, outlines the company’s premium, sustainable growth playbook in conversation with PRATAP PADODE, Editor-in-Chief, CW. Excerpts:Birla Estates recently acquired a 70.92-acre land parcel in Boisar, Maharashtra, for..

Next Story
Infrastructure Urban

Mumbai’s land crunch and ageing homes call for structured renewal

Founded in 2022, Etonhurst Capital Partners is a real-estate fund management platform focused on the Indian market. As the firm achieves the first close of Rs 1.8 billion for its debut Rs 5 billion fund, Bamasish Paul, Co-founder, Managing Partner & CEO, discusses its sharp focus on redevelopment-driven value creation in Mumbai’s urban core with CW. Excerpts:Etonhurst Capital has achieved a significant milestone with the first close of Rs 1.8 billion for its Rs 5 billion fund. What factors contributed to this early success and how do you plan to attract further investments to r..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?