Gurugram-based real estate developer Vipul Ltd has raised Rs 150 crore from Edelweiss Group, one of the leading financial services companies, for its luxury housing project Aarohan Residencies, located on Golf Course Road in the heart of Gurugram.

The company has entered into an agreement with Edelweiss Commodities Services Ltd for raising Rs 150 crore through issuance of secured, redeemable, unlisted, Non-Convertible Debentures (NCD). The NCD issued will be for tenure of 54 months.

The project will be developed in phases and the first phase constitutes three iconic towers with four apartments on each floor, in each tower. The Aarohan project will include facilities such as a sky deck, landscaped intermediate terraces, amphitheater, modern security solutions including synchronized firefighting systems, CCTV surveillance in complex, smoke and heat detectors, amongst other state-of-the-art facilities. Many of these facilities shall be developed as part of the commercial complex not forming part of the premium residential space.

Edelweiss Commodities Services Ltd. is a part of Edelweiss Group, one of India’s leading financial services company providing a diversified range of financial services and products.

“The fund raising will enable us to accelerate construction of Aarohan Residencies and improve visibility of the project which we believe will add a lot of confidence to prospective buyers This funds mop up, from a reputed financial group as Edelweiss, is testimony of the inherent strength of the project,” said Punit Beriwala, Managing Director, Vipul Ltd.

Vipul Ltd. recently awarded a Rs. 500 crore contract to Leighton India to construct the first phase of its project ‘Aarohan’. The company already delivered four successful projects on Golf Course road.

here is company details.

 

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