TPL REIT enters into first funding round of Rs18.35bn in Fund I

MG News | May 11, 2022 at 03:26 PM GMT+05:00

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May 11, 2022 (MLN): TPL Properties Limited (TPLP) has informed that its wholly-owned subsidiary TPL REIT Management Company Ltd (TPL RMC) has successfully entered into Unit Subscription Agreements for its first funding round of Rs18.35 billion in its TPL REIT Fund I (Fund) with all initial investors.

As a next step, Fund will start the acquisition of the initial three assets (held through SPVs) from TPL Properties (as the strategic investor in the Fund) against cash consideration and issuance of REIT Units
for which required approvals are in place.

The company will keep its shareholders updated with respect to any further updates by making further announcements as and when the transaction progresses, the notice added.

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