Gaurs Group Raises Rs 440 Crore Through Debenture Issue

Gaurs Group, a leading realty firm in Delhi-NCR, has raised Rs 440 crore via non-convertible debentures. The funds, fully subscribed by prominent mutual funds, will aid in land acquisition, project construction, and debt repayment. The move highlights the group's financial resilience and growth strategies.

Gaurs Group, a prominent real estate developer based in Delhi-NCR, announced on Monday the successful raising of Rs 440 crore through the issuance of non-convertible debentures (NCDs). The company plans to use the funds for land acquisitions, construction, and debt repayment.

The debut public issuance of NCDs has been fully subscribed by three major mutual funds in India. This strong subscription reflects Gaurs Group's financial steadiness and growing trust among institutional investors.

The debentures, issued by Gaursons India Pvt Ltd, will be listed on the National Stock Exchange (NSE). According to Director Sarthak Gaur, this move provides the group with the flexibility to expand while maintaining a sound capital structure. Gaurs Group has already developed more than 100 million sq ft and delivered 75,000 units across 70 projects, including three townships.

(With inputs from agencies.)