Coliving Operator Stanza Living Secures INR 425 Cr in Debt Financing Led by Kotak Mahindra and RBL Bank

Stanza Living, a coliving operator, recently confirmed that it has received Rs 425 crore in debt financing led by Kotak Mahindra Bank and RBL Bank for capital investment and commercial development in key cities of India.

The firm has raised USD 57 million (about Rs 425 crore) via a debt financing led by Kotak Mahindra Bank and RBL Bank.

Alteria Capital, the company's current financing lender, also participated in the newest round.

Stanza Living stated in a statement that the profits would be used to pay capital expenditure for existing and future projects and to drive the company's next phase of multi-city growth.

Sandeep Dalmia and Anindya Dutta co-founded Stanza Living in 2017 to offer rental housing for students and working people.

This loan injection follows on the heels of Stanza Living raising USD 100 million in equity capital last year. The firm operates in 23 locations and has a total of more than 75,000 beds.

The amount of funding secured by Stanza Living both in debt and equity financing till this point in time equates to around 220 million USD.

Stanza Living's MD and co-founder, Anindya Dutta, said, "This debt raising is the outcome of our smart financial management and meticulous planning to avoid being caught off guard by short-term market issues. It will provide us with the weaponry necessary to increase our return on equity and aggressively expand our businesses throughout the nation."

Following the pandemic's initial downturn, Stanza Living claimed it has shown remarkable resilience and had one of the quickest recoveries in customer demand over the previous two quarters.

Stanza Living has recently established a new business area, campus facilities management, in response to increased demand from big academic institutions and corporate entities.

Global investors such as Alpha Wave Incubation, Equity International, Falcon Edge Capital, Sequoia India, Matrix, and Accel Partners have funded the Gurugram-based startup.