Alpha Wave Global Invests $145 Million in Oberoi Realty JV

25 Mar 2025 CW Team

Alternative investment firm Alpha Wave Global has committed to investing Rs 12.5 billion ($145 million) in I-Ven Realty Ltd, a joint venture between Oberoi Realty Ltd and its chairman & managing director, Vikas Oberoi.

With this investment, Alpha Wave will acquire a 21.74% stake in I-Ven Realty on a fully diluted basis, according to Oberoi Realty’s stock exchange filing.

I-Ven Realty, originally formed in 2003, is engaged in construction, development, and real estate operations. The fund infusion—a precondition for Alpha Wave’s stake acquisition—will primarily be used to repay loans taken from Oberoi Realty and Vikas Oberoi.

In addition, Oberoi Realty and Vikas Oberoi will invest an additional Rs 1.65 billion ($20 million) in I-Ven Realty through 4.125 million redeemable preference shares.

The joint venture, which was initially formed to acquire a four-acre land parcel in Worli from GlaxoSmithKline, has undergone multiple development revisions. While initially approved for 44 duplex apartments in two towers, plans have evolved to include a luxury mall, boutique hotel, and office space spanning 1.8 million square feet.

Oberoi Realty had acquired a 50% stake in I-Ven Realty in 2013 from ICICI Venture, and the JV secured key approvals in 2016. A portion of the land had also been allocated temporarily to the Mumbai Metropolitan Region Development Authority (MMRDA) for the Worli Metro station, as per a 2017 media report.

This latest investment underscores Alpha Wave’s confidence in India’s luxury real estate sector, positioning I-Ven Realty for future growth

Infrastructure Urban

06 Apr 2026

CFI Appoints New National Council for FY27 and FY28

The Construction Federation of India (CFI) has announced its newly elected National Council and office bearers for a two-year term covering FY27 and FY28. M. V. Satish, Advisor to CMD and Lead Ambassador for Middle East, L&T, has been elected President; Priti Patel, Chief Strategy & Growth Officer, Tata Projects, has been appointed Vice President; and Ajit Bhate, Managing Director, Precast India Infrastructures, has taken charge as Treasurer.The newly formed National Council brings together senior leaders from major EPC and infrastructure companies, reflecting CFI’s continued focus o..

India REIT Market Gains Momentum with Strong Returns

India’s Real Estate Investment Trust (REIT) market is witnessing strong growth, emerging as a competitive investment avenue both domestically and across Asia. According to a recent ANAROCK report released at EXCELERATE 2026 by NAREDCO Maharashtra NextGen, the sector is evolving into a mature asset class driven by solid fundamentals, regulatory backing and rising investor confidence.The introduction of Small and Medium REITs (SM REITs) in 2025 has further widened access through fractional ownership, unlocking a potential monetisation opportunity of Rs 670–710 billion. Indian REITs have deli..

G R Infraprojects Secures Rs 4,130 Million BESS Contract From NTPC

G R Infraprojects said it has secured a contract from NTPC to supply and implement a battery energy storage system (BESS) valued at Rs 4,130 million (mn). The company reported the order was awarded as part of NTPC's ongoing efforts to enhance grid flexibility and energy storage capacity. The contract represents a notable addition to the firm's project pipeline and underscores demand for utility scale storage solutions. The award is expected to strengthen G R Infraprojects' presence in the energy infrastructure sector and to contribute to the firm's order book and future revenues, subject to st..