 "Palava")
Piramal Enterprises Limited (PEL) and Ivanhoé Cambridge, a real estate subsidiary of CDPQ (Caisse de Dépôt et Placement du Québec), will invest Rs 500 crore in Palava, a smart city being developed by Lodha Group.
The equity investment in Palava, in the Mumbai Metropolitan region, is being done from the Piramal Ivanhoe Residential Equity Fund.
PEL and Ivanhoé Cambridge have formed a strategic co-investment fund to provide long-term equity capital to residential developers across the five major metro cities in India (Mumbai, Bengaluru, NCR, Pune and Chennai). Ivanhoé Cambridge, a unit of CDPQ, a Canadian financial sector player, had allocated an initial
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