Amrapali Gets 1,000 Cr Fund Infusion

The SBI Capital (SBICAP) Ventures, which manages the government-sponsored Special Window for Affordable and Mid-Income Housing or SWAMIH Investment Fund I has agreed to fund the completion of eight projects of the defunct Amrapali group. Under the proposed plan, a special purpose vehicle will be created with SWAMIH Investment Fund, acting through its Investment Manager, SBICAP, putting in a total of Rs 995 crore in eight housing projects of Amrapali. This will help the state-run NBCC, which was ordered by the Supreme Court to complete the stalled projects get on with its work, benefitting hundreds of homebuyers.