Altico Capital has closed a deal to invest Rs. 180 crore in Pune-based Pharande group.
The investment will be made in tranches and is earmarked for two brown-field residential projects namely ‘L-Axis’ and ‘Woodsville-III’ located in and around the city’s Spine Road. Both are under-construction projects, each with approximately 7 lakh sq. ft. free sale area and cater to the mid-income housing demand in the PCMC area, offering 2 BHK and 3 BHK configurations with amenities at unit prices starting from Rs. 50-60 lakh. Altico Capital India Pvt. Ltd is a non-banking financial company backed by Clearwater Capital Partners,Varde Partners and Abu Dhabi Investment Council.