Oberoi Realty sells ₹1,250 crore stake in I-Ven Realty to Alpha Wave Ventures
Listed real estate developer Oberoi Realty has sold its stake in joint venture I-Ven Realty for ₹1,250 crore to Alpha Wave Ventures II, LP, the company announced in a regulatory filing.
“We refer to our letter dated March 20, 2025 whereby we have intimated, inter alia, the approval by the board of directors of Oberoi Realty Limited (“Company”) for the execution of the securities subscription agreement dated March 20, 2025 entered into between the Company, Alpha Wave\ Ventures II, LP,” the company said in a regulatory filing.
The regulator filing stated that Vikas Oberoi (CMD of Oberoi Realty), and I-Ven Realty Limited (“I-Ven”) (“SSA”), pursuant to which I-Ven proposes to offer and issue securities to the Investor for a consideration of ₹1,250 crore constituting 21.74% of the share capital of I-Ven on a fully diluted basis, subject to certain conditions as contained in the SSA (“Proposed Transaction”).
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According to the company, the transaction was finalised on May 9, 2025, and the transaction involves the issuance of 2,77,778 compulsorily convertible preference shares (CCPS) at ₹44,999.964 per share and 10 Class A equity shares at ₹10 per share to Alpha Wave Ventures. As a result, Alpha Wave now holds a 21.74% stake in I-Ven Realty on a fully diluted basis, while Oberoi Realty’s stake stands at 39.13%.
“Consequent to the allotment of the aforementioned securities to the Investor by I-Ven, the company (Oberoi Realty) holds 39.13% of the equity share capital of I-Ven, on a fully diluted basis,” the company said.
Meanwhile, the company last week announced the launch of Elysian Tower D at Oberoi Garden City in the Goregaon area of Mumbai. The project, which has a gross booking value of ₹970 crore for 2.1 lakh sq ft (RERA carpet area) and a total saleable area of 3.25 lakh sq ft, was announced by the company in a regulatory filing.
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The development, which spans 80 acres, offers a variety of 3—and 4-BHK residences, with carpet areas ranging from 2,009 to 3,430 sq. ft, the company said.
