EatClub is raising Rs 185 crore led by Tiger Global with the participation of A91 Partners and 360 ONE Asset Management, while BGO and Aditya Birla Sun Life AMC have jointly invested Rs 350 crore in NCR-based Namo Realtech.
BGO, Aditya Birla Sun Life AMC back Namo Realtech
BGO, a global real estate investment manager; and Aditya Birla Sun Life AMC have jointly invested Rs 350 crore in NCR-based Namo Realtech to support its expansion plans in the real estate sector, The Economic Times reported.
Namo Realtech is currently developing two projects in partnership with Max Estates, covering 30 acres and 6.4 million sq ft of space. The firm also holds additional land assets and is in the process of acquiring more to partner with leading developers.
“India’s residential market continues to show strong potential, and this transaction reflects our confidence in its sustained growth,” said Bharat Khanna, Head of India at BGO.
The BGO-Aditya Birla platform has so far committed to nine projects across five cities, focusing on post-approval developments with reputable partners. The deal underscores investor confidence in India’s formalised real estate sector, following regulatory reforms like RERA and GST.
Tiger Global to lead funding in EatClub
EatClub, which owns and operates several popular cloud kitchen brands such as Box8 and Mojo Pizza, is raising Rs 185 crore (nearly $22 million) led by Tiger Global with the participation of A91 Partners and 360 ONE Asset Management, Entrackr reported.
As per the filing, Tiger Global is set to lead the round with an investment of Rs 126 crore, followed by A91 Partners with Rs 37.5 crore. 360 One Asset Management, through its Monopolistic and Opportunity Fund, will contribute Rs 21.2 crore. The company may raise more capital in this round.
The company will use these proceeds for the growth and expansion of the company, the filing further added. According to Entrackr’s estimates, the company will be valued at around Rs 4,585 crore, or $540 million post-money. This marks an 80% increase in the valuation compared to its last fundraise of $40 million at a $300-million valuation in December 2021.
