Debt financing
Luxury Home developer Isprava raises Rs.250-Cr from Luxe Opco Holdings
Mumbai-based Isprava Group , a luxury home development and rental firm, has raised INR 250 crore (USD 28.4 million) in debt from Singapore-based Luxe Opco Holdings. The parent company, Isprava Vesta Pvt Ltd, issued 1,195,071 compulsorily convertible debentures (CCDs) at INR 2,091.93 each. Additionally, the company approved an investment of INR 108 crore in Magnara Homes Pvt Ltd through Optionally Convertible Debentures (OCDs).Founded in 2016 by Nibhrant Shah, Dhimaan Shah, and Rohan Lamba, Isprava focuses on building and renting luxury homes in Goa, Alibaug, and Coonoor. The company also provides these residences as high-end vacation retreats, complete with premium services like housekeeping and private chefs. Isprava claims to have delivered over 200 homes to date.
Between May-18 and Nov-25, Isprava had attracted about USD 255 M from Godrej Fund, Burman Family Office, Symphony International Holdings, and Alta Capital.For FY24, Isprava had reported about INR 451.77 Cr in Operating Income and about INR 63 Cr in PAT.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
