Ajmera Realty & Infra India Ltd has secured credit facilities of ₹500 crore from Standard Chartered Bank and ICICI Bank.

According to the company’s stock exchange filing, the funds will be used for the execution of Ajmera Manhattan, a residential project situated in Wadala, Mumbai. Additionally, a portion of the funds amounting to ₹200 crore has been used towards the partial pre-payment of the GCP loan availed from HDFC Bank.

Dhaval Ajmera, Director of Ajmera Realty & Infra India Ltd, said “This structured deal represents a strategic step forward in maintaining our unwavering dedication to our company’s objectives. The successful execution of this deal highlights our company’s financial reliability and creditworthiness, reinforcing our commitment to achieving our 5x growth vision.” 

Ajmera Realty & Infra India stock declined by 2.71 per cent on the NSE, trading at ₹703.10 as of 11.53 am on Wednesday.