Eredene exits Indian housing

Eredene Capital, an Aim-listed investor in Indian infrastructure, yesterday took a £6.6m writedown after selling out its stakes in two social housing projects. The London-based firm, which boasts Sir Christopher Benson as a non-executive director, has sold its stake in Gopi Resorts and Matheran Realty – two housing developers in Mumbai– for £7.2m. The investment had a carrying value of £13.8m. The exit leaves the firm with only a port services, logistics and warehousing footprint on the continent.