Xander Finance, the non-banking finance company of the Xander Group Inc, has invested Rs 200 crore in north India-based developer Orris Infrastructure’s residential development.
The investment has come in for a Gurgaon-based residential project of Orris called Greenopolis, an eco friendly development in Sector 89. The project consists of 2, 3 and 4 BHK apartments and the project is spread across 45 acres. The transaction is a high-yield one.
Amar Merani, CEO, Xander Finance, said, “”Orris Infrastructure is well positioned to deliver high quality residential and commercial assets across strategic locations in NCR, given their skills in land consolidation, development and customer-oriented product delivery.”
Merani declined to comment on the details of the transaction.
Vijay Gupta, chairman of Orris Infrastructure, said, “This will enable us to accelerate into its next phase of growth and also provide us with access to global best practices.”
In February last year, Orris had raised Rs 80 crore from Kotak Realty Fund for its project called Orris Carnation Residency which is being developed in Sector 85 of Gurgaon.
The investment is structured as senior secured non-convertible debt, listed on the wholesale debt market of the BSE. This is the biggest transaction in terms of value from Xander Finance’s stable. In July this year, the NBFC had invested RS 50 crore in Bangalore-based realtor Century Real Estate.
The NBFC undertakes restructuring, debt finance, mezzanine debt, recapitalisations, distressed investments, listed debt securities and structured equity.
Xander Group is an investment firm whose founding partners include Lord (Jacob) Rothschild’s family interests and RIT Capital Partners plc, The Getty Family Trusts, Professor Arthur I Segel, Poorvu Family Professor of Management Practice, The Harvard Business School and Sid Yog.
Xander Finance had earlier invested in Omkar Realty, and Rs 70 crore in ’Times Square’, a grade A office and retail project in Andheri East promoted by Rajnikant S Ajmera of Nilkanth Tech Park Pvt Ltd.
(Edited by Joby Puthuparampil Johnson)