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TPG Capital Buys $101M Shriram Stake
Private equity firm TPG Capital has bought a 15% share in Shriram Properties for $100.8 million.
Private equity firmTPG Capitalhasbought a 15% share inShriram Propertiesfor $100.8 million,Economic Timesreports. The realty arm ofShriram Groupwill use the proceeds to develop commercial and residential projects.
The capital raised from the U.S. firm will also be used to acquire distressed assets in the market. Presently, TPG holds a 49% stake inShriram Retail Private Holdingsand 28% inShriram Citi Union Finance.
Click here for the story fromEconomic Times.
Click here for additional coverage fromThe Hindu.