Real estate & property

“Kotak Realty Fund, a part of Kotak Investment Advisors, has invested Rs. 240 crore in an under-construction shopping mall in Chennai and Rs. 80 crore in an ongoing office project in Mumbai from its $250 million offshore fund,” reported Livemint. Both the deals have been funded through debt financing by the issue of listed, secured, non-convertible, redeemable debentures by C&J Corporate Park, a group entity of National India Bullion Refinery to Kotak Realty.

J Sagar Associates (JSA) acted for Piramal Enterprises which invested Rs 65 crores in the development of a residential-cum-commercial project of around 630,000 square feet on Bangalore’s Sarjapur Road, Bangalore by Krishna E Campus, which was advised by Wadia Ghandy.

JSA Bangalore partners Vivek Chandy, Raj Ramachandran and Malini Raju, with senior associate Asok Chacko Thomas and associate Lalu John Philip assisted Piramal.

Krishna E Campus, which is an affiliate of KMB Estates, was advised by Wadia Ghandy Bangalore partner Ankit Majmudar, who is due to join Platinum Partners early next year.

The deal involved advice on title, investment and due diligence. Chandy commented: “The transaction was quite interesting as the same involved corporate restructuring of KECPL and exit of one of the promoters at the same time as the investment was being made.”