Elan Group raises ₹140-crore debt, ETRealty

NEW DELHI: Gurugram-based developer Elan Group has raised ₹140 crore in debt from a real estate credit platform jointly managed by BGO and Aditya Birla Sun Life AMC, two people aware of the development said.

The company had recently raised ₹250 crore from Piramal Finance for the construction of another commercial project in the city.

Elan Group has repaid ₹875 crore debt availed from Asia Pragati Strategic Investment Fund, part of PAG, one of the largest private investment firms in Asia.

Asia Pragati invested ₹875 crore in Elan Group in 2022, with the funds used towards growth capital.

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