Private Equity

PE-RE Fund Investments

Eon Group raises Rs.60-Cr from Nisus for residential project in Mumbai's Prabhadevi

Economic Times  

Nisus Finance & Investment Managers LLP has invested over INR 60 crore in a premium boutique residential project of developer Eon Group at Prabhadevi, in central Mumbai. The structured investment via non-convertible debentures (NCDs) is for a tenure of 48 months. The project, Eon One, spread over more than three-quarters of an acre, involves redevelopment of an old housing society with rehabilitation of its existing 27 members. The project is expected to be completed by December 2025. It has a total development potential of 1.5 lakh sq ft and is expected to generate revenue worth INR 400 crore. It is claimed that the project has already achieved bookings for 20% of its inventory.