Bain Capital invests Rs 1330 cr in TARC Ltd

New Delhi, May 05, 2022: Real Estate Development Company, TARC Limited announced that it has successfully raised Rs 1330 crores from US based Bain Capital. The funds were infused by Bain Capital Credit in the form of secured long term NCDs. 

A press release issued by the company says that TARC has utilized part of this newly infused capital to retire its entire existing debt with multiple domestic lenders. 

These funds would serve to fund its expansion and to maintain the recently acquired growth momentum. More specifically, it would be used on an immediate basis for the development of its New Delhi centric land parcels meant for residential development besides the other land holdings of TARC which are strategically located in the satellite town of Gurgaon. 

Sharing details about the transaction, Amar Sarin, CEO & MD TARC Ltd. said “This capital would provide us with the much-needed growth platform in a very timely manner. The investment by a firm such as Bain Capital also demonstrates the quality of Projects and Land Bank in the company. We are currently witnessing a full blown residential real estate cycle in North India.  This capital would help us to create magic on some extremely strategic residential land parcels that we own in the New Delhi market.”