Mumbai skyline: Apollo Global leaves Ahuja Towers.
Global Private Equity fund Apollo Global Management has exited from the super luxury residential project Ahuja Towers, Worli of the Mumbai-based real estate company Ahuja Constructions.
Apollo had invested approximately US$30.1 million (conversion rate as on date of exit) in the Ahuja Towers project for a 49% voting rights in the company.
Apollo has taken successful exit from its investment in the Ahuja Towers project wherein they made approximately US$69.35 Million (conversion rate as on date of exit) for their investment of approximately US$30.1 Million (conversion rate as on date of exit) resulting in multiple of 2.3 times on their investment value.
With over US$90 billion as corpus, Apollo Global Management is one of the largest Global private equity funds investing in diverse sectors ranging from Logistics, Textiles, and Real estate, etc.
When contacted the spokesperson of Ahuja Constructions confirmed the exit.
This comes at a time when most realty funds are finding it difficult to exit their investments in real estate projects amid a slowdown in the property market.
Ahuja Constructions used the money invested by Apollo Global Management to develop 53-storey super luxury residential project Ahuja Towers which has redefined the skyline of Worli Mumbai.
For over three decades, we at Ahuja Constructions have proudly been punctuating the Mumbai skyline with towering buildings. fii-news.com
Apollo had invested approximately US$30.1 million (conversion rate as on date of exit) in the Ahuja Towers project for a 49% voting rights in the company.
Apollo has taken successful exit from its investment in the Ahuja Towers project wherein they made approximately US$69.35 Million (conversion rate as on date of exit) for their investment of approximately US$30.1 Million (conversion rate as on date of exit) resulting in multiple of 2.3 times on their investment value.
With over US$90 billion as corpus, Apollo Global Management is one of the largest Global private equity funds investing in diverse sectors ranging from Logistics, Textiles, and Real estate, etc.
When contacted the spokesperson of Ahuja Constructions confirmed the exit.
This comes at a time when most realty funds are finding it difficult to exit their investments in real estate projects amid a slowdown in the property market.
Ahuja Constructions used the money invested by Apollo Global Management to develop 53-storey super luxury residential project Ahuja Towers which has redefined the skyline of Worli Mumbai.
For over three decades, we at Ahuja Constructions have proudly been punctuating the Mumbai skyline with towering buildings. fii-news.com
