Ajay Piramal
Sensing huge future business potentials in the country's infrastructure sector, Piramal Enterprises, which is enriched with funds and is currently looking for opportunities for investment, in a recent move has decided to offer debt financing for key infrastructure projects across the country, Chairman Ajay Piramal, said in a recent statement, adding that the player is clearly looking to invest in companies that will give desired returns. Apart from this, the player is also investing in real estate projects through its non-banking financial company (NBFC). In view of this, in a recent move it also announced its decision to pick up a 20% stake in Chennai-based Shriram Capital for Rs. 2,014cr. In fact, the player has been driving debt deals through the NBFC.

Elaborating further, he added that it has inked deal with the Canada Pension Plan Investment Board (CPPIB) under which the latter is providing debt financing to build real estate projects across the country. The CPPIB, one of Canada's biggest pension funds, invests money to pay benefits to its 18 million current and retired contributors. At $192.8 billion, the CPPIB fund is the largest single purpose pool of capital in Canada. In February, Piramal Enterprises formed a strategic alliance with CPPIB to set up a $500-million real estate finance company in India. In the given global scenario, India is the next logical step for CPPIB and is actually looking to find an experienced long term partner with a proven probity and strong track record. That apart, on its part, the CPPIB has been keen to participate in India's burgeoning realty sector as it has demonstrated compelling fundamentals, which the CPPIB could not ignore and hence it is very bullish on the country's growth story.