The early redemption was possible from healthy sales and internal accruals driven by the success of Atmosphere O2 project
MUMBAI, Mar 25 (The CONNECT) – Atmosphere Realty Private Limited (ARPL), a Joint Venture of The Wadhwa Group (50%), Man Infra Construction Limited (30%) and Chandak Realtors Private Limited (20%), has successfully completed the early redemption of its secured Non-Convertible Debentures (NCDs), much ahead of the scheduled maturity date.
ARPL had issued 2,179 debentures at a face value of Rs.10 lakh each aggregating to ₹217.9 crores on December 9,2020 which were acquired by Marubeni Corporation, a Japanese Conglomerate with a diverse portfolio spanning various industries like food, energy infrastructure and more, operating globally with a presence in over 65 countries. The debentures were originally set to mature on December 9, 2030, but fully redeemed early on March 24, 2025.
The early redemption was possible from healthy sales and internal accruals driven by the success of Atmosphere O2 project, a premium gated community project located at Nahur in Mulund West, Mumbai.
The successful exit of the investment made by Marubeni Corporation re-emphasizes the belief of partnering with top rated developer with good track record of development and timely completion with focus on high quality development.
Marubeni and ARPL aim to explore several other opportunities together after successfully completing the above transaction.
