The Isprava Group, which is into luxury housing and hospitality businesses, on Monday said it has raised USD 130 million (about Rs 985 crore) from investors to grow its business. The funding round was led by family offices including the Nadir Godrej Family Office, the Burman Family Office and others, a company statement said.
The capital has been raised as a combination of corporate level equity and project level equity. The Isprava Group operates two companies – Isprava and Lohono Stays. Isprava is a luxury home developer. It has over 110 projects across Goa, Alibaug, the Nilgiris and Kasauli.
Lohono Stays is into luxury homestay and hospitality. It has over 105 properties in India and over 250 properties in South East Asia (Bali, Phuket, etc). “With this round of growth capital, both companies (Isprava and Lohono Stays) will continue to drive tremendous growth across their business verticals,” it said. The funds raised will help the group in scaling up both businesses.
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