Isprava Group, one of the top luxury holiday-home developers in India, has successfully raised fresh debt funding of Rs 250 crore from Luxe Opco Holdings, a company based in Singapore. This is their first major fundraise in nearly three years.
The investment highlights the continued confidence of investors in India’s premium real estate and holiday homes segment with a focus on popular lifestyle destinations such as Goa, Alibaug and Coonoor.
The money was raised through the issuance of close to 12 lakh compulsory convertible debentures, each with a price slightly above Rs 2,000. Additionally, the company has given its consent to a Rs 108 crore investment in Magnara Homes by way of optionally convertible debentures, thus providing monetary flexibility and the capacity to gain from a strategic partnership without the disadvantage of immediate equity dilution.
Key Highlights
Isprava, a company that came into existence in 2016 through the joint efforts of Nibhrant Shah, Dhimaan Shah and Rohan Lamba, is a luxury real estate brand which stands out in the market due to its unique combination of real estate and hospitality services.
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The company’s boutique villas promoted by concierge teams, housekeeping and specially curated experiences have gone beyond the usual premium private stays and redefined the concept for those travellers who demand privacy instead of sticking to conventional hotels.
Isprava’s operational performance is a testament to its strength. In FY24, the company managed to double its revenue to Rs 452 crore and made a profit of Rs 63 crore, thereby demonstrating the strong demand for luxury holiday homes and rental stays.
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