Xander to invest Rs. 375 crore in Rustomjee Urbania project.

The private equity (PE) arm of investment firm Xander Group Inc. is set to invest around Rs. 375 crore in a township project of Mumbai-based realty firm Keystone Realtors Pvt. Ltd., according to three people familiar with the development.

Kapstone Constructions Pvt. Ltd., a unit of Keystone Realtors, is currently constructing the Rustomjee Urbania project, a 127-acre township in Thane, near Mumbai. The project is under a joint development pact between the company, which operates under the brand name Rustomjee Group, and a few landowners.

Xander Investment Management Pte Ltd. will invest the capital by buying non-convertible debenture (NCD) issued by Kapstone Constructions. The transaction is expected to be close this month.

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