MORE Invests $18 Million in Rajesh Lifespaces’s Project
Motilal Oswal Real Estate or MORE, the property investment subsidiary of Motilal Oswal Private Equity, has raised funds of $17.9 million (Rs. 113 Cr) in the continuing residential project of Rajesh Lifespaces, a Mumbai-based real estate developer. The company has subscribed to NCDs (Non-Convertible Debentures). The investment has been made through Nirman Private Limited and Rajesh Lifespaces. The project Raj Grandeur is seeking investment from Motilal Oswal PE for the completion. In this project, the complex consists of 3 and 4 BHK apartments in 30 storied complex which has 3 wings. Some of the other ongoing projects of Rajesh Lifespaces are Raj Tattva in Thane West, White City in Kandivali East, Raj Torres in Thane West, Raj Infinia in Malad West, and Raj Altezza in Mulund West.
The deal of the investment firm is sealed from India Realty Excellence Fund II which has the corpus targeted of Rs. 500 Cr, with other option of Rs. 200 Cr. The second fund is seeking to close the process of fundraising. Recently, Oswal invested around $14 Million (Rs. 85 Crore) in the ongoing real estate project of Shriram Properties, a Southern realtor. Investment was sealed as equity for Greenfield at Special Purpose Vehicle (SPV) in Old Madras Road, Bangalore. Earlier, they invested in a project with Ahuja Developers in Mumbai and another project with Mahaveer Group in Bangalore.
Currently, Motilal Oswal Real Estate is managing two funds with the corpus of Rs. 700 Cr. Rajesh Lifespaces is one of the well-known real estate developers in Mumbai. Rajesh Lifespaces are truly well inspired with the increasing dynamism of lifestyle in Mumbai in order to develop their residential projects. They are well versed to create lifestyle spaces with shape, nurture and celebrating life. Whether it is under-construction project or ready-to-move-in space, the residents can find everything they desire in their projects. They craft spaces with rich legacy.
Rajesh Lifespaces celebrates both their ability and legacy to develop future-ready and budget homes in Mumbai. Rajesh Lifespaces is witnessing tremendous growth with decades of expertise and timeless principles. They establish their diversity to create affordable and luxurious houses.