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The investment arm of World Bank, IFC will invest Rs.150 crore in the residential housing projects of Ashiana Housing.
In a BSE filing the company stated that, Ashiana Housing Ltd (AHL) and International Finance Corporation (IFC), have entered into an agreement to co-invest in upcoming affordable and middle income residential projects including senior living projects.
Furthermore it stated, “The agreement envisages a total investment of Rs.150 crore on a project to project basis by IFC, representing 40% of the capital required by a project. The remaining 60% of the capital required, i.e. Rs.225 crore, will be contributed by AHL.”
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