Update on Investment by Alpha Wave Venture, II, LP in I-Ven Realty
Awaiting price reaction for this filing.
Oberoi Realty announced that the proposed investment by Alpha Wave Ventures II, LP in its subsidiary I-Ven Realty Limited has been completed on May 9, 2025. Alpha Wave Ventures invested approximately INR 1,250 crore to acquire a 21.74% stake in I-Ven Realty on a fully diluted basis, through 2,77,778 Series A CCPS at INR 44,999.964 per share and 10 Class A equity shares. Following this allotment, Oberoi Realty's holding in I-Ven Realty stands reduced to 39.13% on a fully diluted basis. A shareholders' agreement between Oberoi Realty, Mr. Vikas Oberoi, Alpha Wave Ventures, and I-Ven Realty has also come into effect, formalising management and inter-se rights. The deal follows the securities subscription agreement signed on March 20, 2025.
This brings a marquee global investor (Alpha Wave Ventures, backed by ADIA) into Oberoi Realty's real estate venture, potentially strengthening the subsidiary's financial position and growth prospects. Dilution of Oberoi's stake in I-Ven is modest and the structured agreement protects Oberoi's strategic interests. Likely viewed positively by the market given the quality of the incoming investor.