Senior Writer & Content Specialist, India
Existing investor General Atlantic is likely to pick up 12% more stake in PNB Housing, while Varde is expected to acquire 10% stake.
The investment is Allianz’s first private debt commitment in the stressed assets space in India.
HDFC Capital is said to have agreed to form a platform deal with Mumbai-based Rustomjee and is in talks with two other developers for similar deals.
In August last year, KKR had signed an agreement to acquire the stake through a combination of primary and secondary investments.
To step up its pace of investments in India, RTP Global hired Kirill Kozhevnikov, who previously launched and managed Sistema Asia Fund.
The startup plans use the capital to scale up its operations nationally and introduce new products.
Earlier this week, 3one4 Capital reached the first close of its opportunities fund at $21 million.
The round could also see participation to the tune of $150 million in additional cash from its existing backers.
Early last year, the online lending startup had raised $2 million in a seed round from impact investment firm Lok Capital.
This latest filing follows news reports of Flipkart co-founder Sachin Bansal having invested $21 million in the company.