Tag: Piramal Finance

IndustryLatest Stories

Elan Group Secures ₹140 Crore in Debt Financing

NEW DELHI: The Gurugram-based Elan Group has secured ₹140 crore in debt from a real estate credit platform run by BGO and Aditya Birla Sun Life AMC, according to sources familiar with the matter. The company had earlier raised ₹250 crore from Piramal Finance to fund a different commercial project in the city. Additionally, Elan Group has successfully repaid a ₹875 crore debt from Asia Pragati Strategic Investment Fund, which is part of PAG, one of Asia’s largest private investment firms. Asia Pragati provided ₹875 crore to the Elan Group in 2022, aimed at fostering their growth capital. Published On…

Latest StoriesResidential

Etonhurst Capital Acquires 37 Worli Apartments for ₹500 Crore

Real estate investment management firm Etonhurst Capital Partners has acquired over 37 luxury apartments in a high-end residential project located in the upscale Worli area of Mumbai for more than Rs 500 crore. This acquisition marks the first inventory buyout by an institutional investor in India’s growing luxury housing sector. Etonhurst purchased these apartments from Piramal Finance, a non-banking finance company under the Piramal Group, which had acquired the inventory as part of a debt settlement agreement with the project’s developer, Omkar Realtors & Developers. The transaction consists of units in towers A and B of Omkar 1973, which have…

IndustryLatest Stories

Elan Group Secures ₹250 Crore from Piramal Finance

Gurgaon-based developer Elan Group has secured ₹250 crore from Piramal Finance for a commercial project in the city, as reported by sources familiar with the matter. This financing follows a ₹1,200 crore funding from Kotak Real Estate Fund last year, and the company aims to expedite its projects in the area. In 2022, Elan Group raised $110 million (approximately ₹900 crore) from global alternative investment firm PAG. “The funding is designated for a commercial project covering one million sq ft in Gurgaon,” stated one of the sources. Elan Group opted not to comment, and transaction advisor CBRE was unavailable for…