Eight months after the cabinet approved a ₹25,000 crore special window to provide funding to housing projects that are stuck with the aim of reviving the real estate sector. Finance minister Nirmala Sitharaman reported that 81 projects have been approved so far.
Daily Current Affairs Quiz 2020
Key-Points
SWAMIH Investment Fund has been formed to complete construction of stalled, RERA-registered affordable and mid-income category housing projects which are stuck due to paucity of funds.
The fund has a target corpus of Rs 12,500 crore with a greenshoe option of Rs 12,500 crore.
The Investment Manager of the Fund is SBICAP Ventures, a wholly-owned subsidiary of SBI Capital Markets, which in turn is a wholly-owned subsidiary of the State Bank of India.
The Sponsor of the Fund is the Secretary, Department of Economic Affairs, Ministry of Finance, Government of India on behalf of the Government of India.
In the context of an initial public offering (IPO), it is a provision in an underwriting agreement that grants the underwriter the right to sell investors more shares than initially planned by the issuer if the demand for a security issue proves higher than expected.