K Raheja Corp subsidiary repays NCDs worth Rs 500 crore

Realty developer K Raheja Corp and US-based private equity major Blackstone Group’s subsidiary K Raheja IT Park (Hyderabad) (KRIT), has repaid non-convertible debentures (NCDs) worth Rs 500 crore.

These NCDs were issued in February 2017 with coupon rate of 7.95 per cent and total tenure of nine years.

The instrument was secured by a mortgage over KRIT’s underlying office property that is part of IT park Raheja Mindspace spread over 110 acres in Hyderabad’s HITECH city.


An email query to K Raheja Corp remained unanswered.

K Raheja Corp holds 74 per cent in KRIT, while Blackstone Group through its investment vehicles holds 15 per cent and 11 per cent equity is held by the Andhra Pradesh Industrial Infrastructure Corporation.