Oberoi Realty completes ₹1,250 crore stake sale in I-Ven Realty to Alpha Wave Ventures, ET RealEstate
NEW DELHI: Oberoi Realty on Friday said it has concluded the ₹1,250 crore stake sale in I-Ven Realty, a joint venture entity, to Alpha Wave Ventures II LP, following board approval and execution of the definitive agreements in March 2025.
As part of the transaction, Alpha Wave Ventures has been allotted 2,77,778 Series A compulsorily convertible preference shares (CCPS) at an issue price of ₹44,999.964 per share and 10 Class A equity shares at ₹10 per share. The allotment was made on May 9, 2025, the company informed in a regulatory filing.
The investment gives Alpha Wave Ventures a 21.74% stake in I-Ven Realty on a fully diluted basis. Post-transaction, Oberoi Realty’s stake in I-Ven now stands at 39.13%, also on a fully diluted basis.
I-Ven is a joint venture company of Oberoi Realty, and the shares of I-Ven are currently held between company and Vikas in equal proportion.
The transaction was executed under a securities subscription agreement (SSA) and a shareholders’ agreement, both dated March 20, 2025, involving Oberoi Realty, Alpha Wave Ventures, Vikas Oberoi, and I-Ven Realty.
The proceeds will be utilized by Oberoi Realty to repay the outstanding amounts of the loan availed as well as redeem the existing preference shares held by inter alia the company and Vikas.
In March 2025, Oberoi Realty had said the stake sale would help unlock value from I-Ven and bring in a long-term institutional partner to scale its platform.
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