Global private equity company Bain Capital has infused Rs 1,330 crore (around $175 million), along with other investors in Mumbai-based real estate developer TARC Ltd.
The funds have been used to retire all loans of the company. Accordingly, all existing loans of TARC stand paid off as at April 29, 2022, it said in the filing.
Its peer Canadian investment firm Brookfield Asset Management last month acquired 51% stake in four commercial properties from billionaire Sunil Mittal-led Bharti Enterprises besides recently agreeing to acquire headquarters of IL&FS (Infrastructure Leasing and Financial Services) at Mumbai’s BKC for Rs 1,080 crore (around $143 million).
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