The deal was advised by the Mumbai-based investment banking firm Ashika Capital.
"Jaipur-based project Urbana Jewels, promoted by Urbana group, has raised Rs 78 crore from India Infoline Ltd (IIFL) to complete pending construction," Ashika Capital said in a statement.
Urbana Jewels will have 1,200 apartments and the amount raised would be used for finishing the project.
Ashika Capital President Vaibhav Jain said: "It is a unique deal for Rajasthan, especially considering the ticket size does raise optimism for the future. More such transactions are in the offing."
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