PE-RE Fund Investments
Goa’s luxury realtor Isprava Group raises Rs.850-Cr from Alta Capital
Isprava Group , a Goa-based luxury realtor, has raised INR 850 crore (USD 100 million) from Alta Capital in lieu of a significant minority stake. Post-transaction, Alta Capital is expected to become the largest shareholder in the company after the founder trio and family.The company also has early backing from the family offices of Burman (Dabur), Nadir Godrej, and Anand Piramal. In early 2023, Isprava Group raised INR 160 crore from Asia-focused investment firm Symphony International Holdings Ltd. and an investment last year from Habrock Capital, an investment vehicle for the endowment fund of Massachusetts Institute of Technology (MIT).Founded in 2016 by brothers Nibhrant and Dhimaan Shah and Rohan Lamba, Isprava Group develops ultra-luxury second homes in non-urban locations. It operates in India and across Thailand, Italy, Bali, and Mauritius.The new investment will be used for expansion into vacation destinations Goa, Alibaug, Karjat, and Kasauli, to offer international properties to ultra-rich clients, and to provide exits for some of the earlier high-net-worth investors.
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