Transcon Developers Private Limited has raised structured debt finance
The transaction is a landmark resolution in the distressed real estate sector, involving a structured solution of US$64.6 million (INR5.5 billion) for a leading real estate developer in the Mumbai Metropolitan Region (MMR). The transaction was backed by a global special situations investor. The project had a total debt carrying value of approximately US$76.3 million (INR650 crore), of which US$29.4 million (INR250 crore) was deemed unsustainable.
With over three decades of experience, Transcon Developer Private Ltd. is a premier property developer in the Mumbai Metropolitan Region (MMR), specializing in residential and commercial projects. The company has successfully delivered approximately 7.7 million square feet of real estate, with an additional 2 million square feet currently under development. Ongoing projects are expected to be completed within the next three to four years. Transcon’s developments in prime locations such as Bandra, Kalina, Santacruz, Andheri, Malad and Mulund benefit from strong underlying demand fundamentals.
Oaklins’ team in India successfully engineered a comprehensive resolution with existing lenders while simultaneously arranging refinancing and securing additional capital, ensuring both the sustainability and continuity of the project. As part of the resolution strategy, interest on the unsustainable portion of the debt was waived, and the overall debt exposure was right-sized to a sustainable level, effectively addressing capital structure inefficiencies. To preserve liquidity, US$17.6 million (₹150 crore) of obligations were strategically structured through an inventory allotment to the previous lender. The remaining debt was fully taken out in cash, providing much-needed financial stability and operational continuity. Furthermore, the new financing structure was deliberately designed to be National Company Law Tribuntal (NCLT)-remote, reducing insolvency risk and protecting the project's progress. In addition to resolving the existing liabilities, the team arranged a further US$17.6 million (₹150 crore) in fresh funding to fast-track project completion and secure critical regulatory approvals. This milestone transaction underscores the Oaklins India team’s deep expertise in executing complex, time-sensitive financial solutions within the distressed real estate space.
Talk to the deal team
Related deals
Omer Engineering has completed an IPO
Omer Engineering Ltd. has successfully launched its IPO on the Tel Aviv Stock Exchange, pricing shares as part of a plan to raise approximately US$94 million at an implied pre-money valuation of around US$313 million. The offering included both newly issued shares and a secondary sale by existing shareholders, who retained a significant majority stake post-IPO. This transaction underscores strong investor interest in scaling the company’s operations and enhancing its capital.
Learn moreBrunswick Real Estate has sold Solaris commercial center to P&E Capital
Solaris Center, a landmark mixed-use retail and leisure destination in central Tallinn, has been acquired by P&E Capital in one of Estonia’s largest real estate transactions of the year. The acquisition strengthens P&E Capital’s growing commercial real estate portfolio in the Baltics.
Learn moreAgrova International has acquired Sunrise Eggs
Agrova International, led by its founder Jurijs Adamovičs, has acquired 100 percent of the shares in Sunrise Eggs, a UK-based egg production and distribution company. This acquisition significantly expands Agrova’s operational footprint and strengthens its position as a pan-European player in the egg and egg protein industry. The transaction was supported with funding from Accession Capital Partners (ACP), a growth capital provider with experience in the agriculture sector.
Learn more