Indian realty firm Unishire raises $19m debt from Reliance AIF

Photo: Freedigitalphotos.net, By: Ponsulak, Image ID: 10090193

Realty firm Unishire Urbanscape Pvt. Ltd has raised $19 million (Rs126 crore), through issue of non-convertible debentures (NCD), from Reliance AIF Asset Management Co. Ltd to clear high-cost debt and for ongoing projects.

Reliance AIF has deployed the money from its recently raised Rs1,000 crore fund, Reliance Yield Maximiser Alternative Investment Fund Scheme 1.

This is Reliance’s first fund under the AIF (alternative investment fund) norms, which was launched last year in August. Reliance AIF is a 100% subsidiary of Reliance Capital Asset Management Ltd.

Property consultancy JLL India was the transaction advisor.

“All our projects deliver 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,” said Pratik K. Mehta, managing director, Unishire.

The money raised will be released in two tranches—Rs90 crore and Rs36 crore. With fresh debt raised, Unishire’s total debt is at Rs176 crore.

Reliance AIF didn’t respond to queries.

Unishire has about 5.6 million square feet under construction and another 6.4 million sq. ft in the pipeline over the next 3-5 years.

 

(This story was first published on livemint.com)

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.