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Mumbai-based property developer Rodium Realty has raised Rs 36 crore in the form of structured debt from non-banking financial company Capri Global Capital.
The investment is for a premium mixed-use redevelopment project, X’point in Kandivali West. It consists of prime retail shops and 2 and 3 BHK residences.
The funds will be used to accelerate construction and speed up the delivery timeline.
Capri Global Capital Ltd is a Non-Deposit Accepting, Non-Banking Financial Company (NBFC-ND-SI) in the country.
Over the past few years, it has been offering various customized solutions to real estate developers and SME businesses.
“These funds from Capri will help us in timely achieving of planned cash flows, maintaining the construction pace and completing this landmark project,” Deepak Chheda, CMD, Rodium Realty Ltd said.
“This investment is in-line with our focus on funding to mid-affordable housing segment, the idea is to extend financial support customized to the needs of today’s mid-sized developers focused in affordable to mid segment, in order to help them pace up sales and deliver projects in a timely manner while maintaining the highest quality,” said Rajesh Sharma, Director, Capri Global Capital Ltd.
Rodium Realty Ltd., is a listed developer and promoted by Deepak Chheda, Harish Nisar, Rohit Dedhia, and Shailesh Shah.
JLL was the advisor for the transaction.
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