Nisus Finance Exits Shapoorji Pallonji Subsidiary with 18.74% IRR
Deal News | Mar 20, 2025 | Nisus Finance Services Co Pvt
Nisus Finance's Real Estate Special Opportunities Fund I (RESO-I) successfully exited from a wholly-owned subsidiary of Shapoorji Pallonji Real Estate (SPRE), securing an internal rate of return (IRR) of 18.74%. The fund had invested Rs 105 crore in senior secured rated listed non-convertible debentures (NCDs) issued by Suvita Real Estate in January 2024. These debentures were redeemed by SPRE through internal accruals and capitalization. The exit is hailed as a testament to Nisus Finance's strategic investment process. Both companies expressed satisfaction with the collaboration, focusing on further engagements in structured credit and capital investment. The investment facilitated SPRE's development of a 12.16-acre land parcel in Pune aimed at affordable housing. The successful exit underscores the fund's focus on high-yield, low-risk investments in major urban markets.
Sectors
- Real Estate
- Finance & Investment
Geography
- India – The companies involved are based in India, with specific investment activities focused on real estate development in Pune, Maharashtra.
Industry
- Real Estate – The investments involved were in the real estate sector, specifically in the development of land and structures focusing on affordable housing.
- Finance & Investment – The article discusses financial activities such as the issuance and redemption of non-convertible debentures and mentions a successful investment exit by a finance service company.
Financials
- 18.74% – Internal Rate of Return (IRR) achieved by Nisus Finance from the investment exit.
- Rs 105 crore – The investment amount in senior secured rated listed non-convertible debentures by Nisus Finance.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Nisus Finance Services Co Pvt. | Investment Firm | Company | The private equity firm managing the RESO-I fund, responsible for the investment in SPRE's subsidiary. |
| Shapoorji Pallonji Real Estate (SPRE) | Target Company | Company | A real estate development company involved in selling non-convertible debentures to Nisus. |
| Suvita Real Estate | Issuer | Company | A wholly-owned subsidiary of SPRE, which issued the senior secured NCDs. |
| Amit Goenka | CMD | Person | Chairman and Managing Director of Nisus Finance, providing commentary on the successful exit. |
| Venkatesh Gopalakrishnan | Director | Person | Director of the Group Promoters Office and Managing Director at SPRE. |