Hotline: 1800 102 2007
X
Search Business Opportunities
Apr, 20 2018

Dutch Fund Backed firm buys stake in North Delhi Metro Mall

The company will invest a total of Rs 800 crore ($121 million) in NDML. It has already invested Rs 300 crore.

Virtuous Retail South Asia Pte. Ltd, a joint venture between alternative investments firm The Xander Group Inc. and Dutch pension fund APG, has acquired a majority stake in privately held North Delhi Metro Mall Pvt. Ltd (NDML), according to a media report.

The company will invest a total of Rs 800 crore ($121 million) in NDML, a financial daily reported citing people it didn’t identify. It has already invested Rs 300 crore.

The funding will be used to build a retail centre spread across 12.3 acres in north Delhi.

Virtuous Retail was formed as a $450 million joint venture in November 2016. It raised an additional $175 million from APG last year.

The JV had acquired an initial portfolio of three retail assets in a transaction valued at $300 million and committed an additional $150 million as growth capital.

Virtuous Retail had bought a retail property in Mohali, Punjab for $109 million in May last year including debt from SUN-Apollo Real Estate Fund. It had also agreed to buy a special economic zone in Chennai from realty firm Shriram Group for $190 million and committed more money to expand the project.

It has centres in Bengaluru, Surat, Chandigarh, and Chennai. It aims to grow its portfolio in cities such as Delhi-NCR, Mumbai Metropolitan Region, Pune, Hyderabad, and Kolkata.

Xander invests in India through three platforms. Apart from Virtuous Retail, it invests in real estate, hospitality, and infrastructure segments from its private equity funds, besides making private investments in public equities (PIPE). It also has a credit business through non-banking financial company Xander Finance Pvt. Ltd.

Comment
image
Related opportunities
  • Bakery & Confectionary
    About Us: Eat Confetti has unique recupes that have never been..
    Locations looking for expansion Delhi
    Establishment year 2018
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Others Food Service
    About Us : An widely accepted Food & Café concept based..
    Locations looking for expansion Maharashtra
    Establishment year 2015
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Others Food Service
    About Us: Humty Dumpty brings fresh tea at your doorstep or..
    Locations looking for expansion Maharashtra
    Establishment year 2018
    Franchising Launch Date 2019
    Investment size Rs. 5lac - 10lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Others Dealers And Distributors
    About Us: JanaJal is a unique ATM, conceptualized by the Supremus..
    Locations looking for expansion Delhi
    Establishment year 2018
    Franchising Launch Date 2019
    Investment size Rs. 2lac - 5lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
Entrepreneur
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities