Issuance of Non- Convertible debentures by Coventry Properties Private Limited to funds managed by Motilal Oswal Real Estate Investment Advisors II Private Limited. The Non-Convertible debenture were issued to fund a real estate project in Sewree, Mumbai.

ELP advised Coventry Properties Private Limited (a 100% subsidiary of SD Corporation Private Limited – a joint venture between the Shapoorji Pallonji Group and the Dilip Thacker Group);; led by a team of partner Darshan Upadhyay, partner Bhavin Gada, associate manager Soumya Shanker, associate Mehak Gupta. ELP assisted in reviewing the transaction documents, participating in negotiations, and providing assistance in the execution and closing of the matter.

The negotiations happened at the time when fund raising was particularly difficult due to a crisis in the India market. The negotiations were protracted since the perception of risk was high for both the parties.

Dua Associates advised Motilal Oswal Real Estate Investment Advisors II Private Limited.

This deal has not been reported by any mainstream media outlets at the time of going to press and is based on the information supplied in a law firm's press release.

Deal value: INR 750,000,000

2018-06-01

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