Indian Economy News

Xander invests Rs. 370 crore in Rustomjee group firm

Mumbai: The private equity real estate arm of global investment firm Xander Group has invested Rs. 370 crore in Kapstone Constructions, a subsidiary of Mumbai-based developer, Rustomjee.

The capital received will be utilised to reduce debt and drive the Rustomjee group’s growth. “This is the fifth private equity investment in our company. Xander group’s extensive industry knowledge and global experience will add significant value to our company,” said Boman Irani, Chairman, Rustomjee.

Kapstone Constructions is currently developing the Rustomjee Urbania township in Thane, spread over 127 acres.

Xander Group is a global investment firm focused on the infrastructure, hospitality, retail and real estate markets. Since 2005, the firm has committed over $2 billion in capital to the Indian market.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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