JSW Realty in Advanced Talks for Rs 1,600 Crore Loan from Tata Capital
En resumen
- JSW Realty is in advanced talks with Tata Capital for a Rs 1,600 crore loan to fund a new office project near Mumbai's Bandra business district.
- The five-year loan is expected to have an interest rate of 9%-11%.
- The deal is not yet finalized.
Resumen generado por IA
JSW Realty, the real estate arm of Indian conglomerate JSW Group, is in advanced talks to raise a Rs 1,600 crore ($169 million) loan from shadow lender Tata Capital Ltd., according to people familiar with the matter.
The developer is seeking the five-year loan to fund an office project near Mumbai’s Bandra business district, the people said, declining to be identified as the discussions are private. The loan is expected to be priced at 9%-11% per annum, they added. The yield on the five-year government bond is currently 6.47%.
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The proposal is still under discussion and the transaction hasn’t been finalized, the people said. JSW Realty and Tata Capital, a unit of India’s oldest conglomerate, did not respond to emails seeking comment.
JSW Realty, which develops residential, commercial and mixed-use projects, has been expanding its presence in Mumbai, where competition for land and redevelopment projects has intensified.
Demand for premium commercial property is being driven by Global Capability Centers (GCCs) and flexible workspace operators, according to Kotak Institutional Equities, supporting continued growth in the sector.
