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Forty years later, as the Men in Blue are in the midst of another promising ODI World Cup campaign, the iconic restaurant reopened Tuesday after renovation works spanning nearly four years.
Nisus Finance Group and Phoenix ARC have invested approximately Rs 100 crore in a commercial project called Swaminarayan Business Park in Ahmedabad. The investment will allow them to take over the project and exit the loans of the previous lender, DHFL. Nisus Finance invested through its Real Estate Special Opportunities Fund -1, while Phoenix ARC is the asset reconstruction arm of Kotak Mahindra Group. This joint investment marks the first collaboration between Nisus BCD and Phoenix ARC. The project is nearly 80% complete and has already been leased to prominent brands.
The investment will help Nisus Finance and Phoenix ARC take over the project and exit the loans of the erstwhile lender DHFL through Piramal Capital & Housing Finance.