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Industry News
Unishire raises Rs. 126 cr via NCD's
Posted On : 2015-09-03 11:29:01( TIMEZONE : IST )
Unishire, one of Bangalore's fastest growing real-estate companies, today announced that it has raised Rs. 126 crores through issue of non-convertible debentures. Reliance Yeild Maximiser Alternative Investment Fund is the investor for the debt issue.
Funds raised will be utilised for clearing high cost debt, on-going projects construction and expansion. The transaction was arranged and consulted by Jones Lang LaSalle Property Consultants (India) Pvt Ltd.
"We are delighted by the confidence shown by Reliance Yeild Maximiser Alternative Investment Fund towards our issue. It stands testimony to the trust industry has on our growth story. At Unishire, we promise to build communities that offer global living experience at a strong value proposition. All our projects are delivering value and strong return-on-investment as on date and we are optimistic that this new partnership will also witness upward trajectory to its investment. I would also like to thank JLL for their expertise that resulted in this strategic action," said Mr. Pratik K. Mehta, Managing Director, Unishire.
The funds raised will be released in 2 tranches of Rs. 90 & 36 cr, with maturity periods of 45 months. With the fresh debt raised, company's total debt portfolio stands at Rs. 176 cr.
Unishire currently has an area of 5.6 mn. Sq. ft. under-construction and another 6.4 mn. sq.ft. planned for development in next three to five years. These form company's strong portfolio of 17 projects with one completed, eight at on-going and rest at pre-launch stages. Projects, spread across the city, are at premium locations that offer promising future outlook. USP of Unishire's projects lie in their architecture that is amalgamation of international, stylish designs and sustainable practices. All projects are green with gold certification from Indian Green Building Council (IGBC).
Recently one of Unishire's project, Belvedere Premia was awarded with "Best Architectural Design Project of the Year" organised by Silicon India, one of the leading media houses. The project was acclaimed for its German design that aesthetically in-corporated green initiatives.
