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Altico Capital invests Rs 430 crore in Supertech's Noida project
NEW DELHI: Non-banking finance company Altico Capital has invested Rs 430 crore in a mixed-use project being developed by Supertech in Noida.
This is the NBFC's first investment with Supertech, which will largely be used towards the development of Capetown project in Sector-74, Noida, while a part of the funding will be utilised for refinancing an existing lender, according to Sanjay Grewal, chief executive officer, Altico Capital.
"Sector-74 is largely a residential sector and part of a well-established residential micro-market, which is well connected to the Noida Expressway as well as Noida City Centre. The project is also located close to an under construction metro line that connects to Noida City Centre on one side and Noida Expressway towards the other," he added.
RK Arora, chairman, Supertech said this investment will enable the company to deliver its projects in Sector 74, Noida.
Altico Capital, which is promoted by Clearwater Capital, Abu Dhabi Investment Council and Varde Partners, has recently invested over Rs 1,250 crore across five deals in Pune and Hyderabad.
The NBFC plans to deploy Rs 3,000 crore in the second half of the current financial year.