The funding will help the company to complete its 35-acre project. The advisor for this round of funding was Ashika Capital.
Swamih (Special Window for Affordable and Mid-income Housing) Investment Fund I has agreed to invest $22.8 million /INR 171 crores in Dehradun-based Windlass Developer’s township Windlass River Valley. The funding will help the company to complete its 35-acre project. The advisor for this round of funding was Ashika Capital.
Swamih Investment Fund I was set up by the Government of India to provide last-mile funding for completing stalled housing projects. In October last year, Bengaluru-based Mantri Developers Pvt. Ltd said it had received funding from this fund to finish a residential project. The first round of the investment fund was set up a few years back. While the fund is pursuing more deals in Dehradun, it is also looking to increase its presence across India.
Windlass Developer falls under the umbrella of Windlass Group. Established in 1943 in Dehradun, Windlass Group operates in oil field equipment manufacturing, steel craft/sword manufacturing, hospitality, retail garment manufacturing, and real estate.
Source: Business World
