SWAMIH Fund for Uttarakhand’s Largest Fully Integrated Township
Dehradun-based Windlass Developer has received approval from SWAMIH Investment Fund I to invest up to Rs. 171 crores for completion of its Township project – Windlass River Valley. This new funding will help the company complete the ongoing launched phases in the 35 acres integrated township to provide world-class residences to its customers, accelerate development and expand its real-estate scale. Windlass River Valley Township is the largest fully integrated development project of Uttarakhand, where several families have already been given possession and are happily residing.
SWAMIH Investment Fund I is a category II Alternative Investment Fund formed under the Special Window for Affordable and Mid-Income Housing as announced by Hon’ble Finance Minister, Government of India, to provide last mile funding enable completion of housing projects across the country.
Given the headwinds in real estate and the post-pandemic world, this fundraising has become more important due to scarcity in the emergence of capital from any alternate sources, and SWAMIH Investment Fund I sponsored by the Government of India has been a key enabler for several projects where last-mile liquidity support needs to be provided. SWAMI Fund is estimated to fund the completion of over 6,000 housing units by the end of FY22 and 1,310 units by April 2021. Ashika Capital Limited, a future-focused investment banking firm, was the lead advisor to this deal.