JM Financial invests Rs 40 crore in Isthara Parks

On Wednesday, JM Financial Private Equity announced that it had completed its proposed investment of Rs 40 crore into Coimbatore-based co-living operator, Isthara Parks Private Limited. The investment was completed in two tranches between July 2019 and June 2020.

In early 2019, the fund identified Isthara as a promising early-stage investment opportunity in the nascent but fast-growing organised co-living sector and thereby, decided to invest in the company to support its expansion plans in existing as well as new markets.

Isthara provides furnished shared-living accommodation for working professionals and students, along with other amenities.

Commenting on the investment Darius Pandole, Managing Director & CEO, PE & Equity AIFs stated that the company carried out extensive research on the co-living sector and identified Isthara as a potential leader in the space. He further stated that Isthara management brings to the table deep domain knowledge in hospitality, IT & real estate and proven execution capability.

JM Financial India Fund is a sector-agnostic growth-capital private equity fund set up by JM Financial which invests in high-growth, small to mid-market companies in financial services, consumer, IT/ITeS, infrastructure services and manufacturing sectors.

At Wednesday the stock of the company closed at Rs 71.90, down by 0.55 per cent or Rs 0.40 per share. The 52-week high is recorded at Rs 126 and the 52-week low is Rs 55.50 on BSE.