Atmosphere Realty Private Limited (ARPL) has completed the early redemption of its secured Non-Convertible Debentures (NCDs) ahead of the scheduled maturity date.
ARPL had issued 2,179 debentures at a face value of Rs 10 lakh each, aggregating to Rs 217.9 crores on 9th December 2020. These NCDs were acquired by Marubeni Corporation, a Japanese conglomerate with a diverse portfolio spanning various industries like food, energy infrastructure, and more. It operates globally and has a presence in over 65 countries. The debentures were initially set to mature on 9th December 2030, with a maximum tenor of 10 years and were fully redeemed early on 24th March 2025.
The early redemption was possible from healthy sales and internal accruals driven by the success of the Atmosphere O2 project, a premium gated community project located at Nahur in Mulund West, Mumbai.
The successful exit of the investment made by Marubeni Corporation re-emphasises the belief in partnering with a top-rated developer with a good track record of development and timely completion with a focus on high-quality development. After completing the above transaction, Marubeni and ARPL aim to explore several other opportunities together.
