Credent Global Finance (CGF), a BSE-listed, Sebi-registered NBFC is in talks to raise ₹500 crore under AIF to fund mid segment real estate state projects in tier 2 cities, Vishnu Rathore , Board of Director at Credent Global said. “We will focus on tier 2 cities which are the next growth engine and have a lot of potential to grow. Our ticket size would be Rs 30-50 crore,” said Rathore. Investment in real estate in India grew by 32% Y-o-Y to an all-time high of $7.8 million in 2022, according to CBRE. Credent recently had taken over Essel Finance Private Equity business in all cash deal. This private equity has little over Rs 200 crore invested in 7 investee companies between Mumbai, pune and Bengaluru. The company is exiting from these investments. “Credent is leveraging this private equity capability, operational infrastructure and ecosystem to lunch new real estate fund – Credent Estate Multiplier Fund, which will be investing in mid income residential projects through equity,” said Rathore. The new fund will be divided into two AIFs, one will be focused on tier 2 cities while other will focus on independent housing. Company is looking at cities like Indore, Chandigarh, Lucknow… Read full this story
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