HDFC Capital invests Rs. 375 cr in Runwal Group’s mid-income, affordable housing project.

HDFC Capital Advisors, the wholly-owned private equity arm of India's largest mortgage lender, has invested Rs. 375 crore in realty developer Runwal Group's mid-income and affordable housing project Runwal Avenue in Mumbai’s eastern suburb of Kanjur Marg.

The fund has made this investment though a mezzanine equity structure. Around Rs. 210 crore of this amount will be utilised to provide complete exit to Piramal Capital, existing lender of the project, while balance will support construction of the project.

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