The private equity arm of India’s largest private sector bank ICICI Bank, ICICI Venture Funds Management Co , plans to raise up to Rs.1,000 crore. It is its second real estate fund, the India Advantage Fund (IAF) 2.
The fund will raise capital from domestic banks and high net worth individuals (HNI''s) and focus primarily on residential real estate projects of mid-sized developers.
Sanjeev Dasgupta, President (Real Estate), ICICI Venture Funds Management Co Said, “We will be looking at projects situated in cities such as Chennai, Delhi-NCR, Mumbai, Pune & Bangalore. It would take about 9 months to raise the capital,”
ICICI Venture had earlier raised Rs 2,465.5 1, in 2005. This focused on $550 million for its first realty fund, IAF residential, commercial and mixed land use projects.
The fund will raise capital from domestic banks and high net worth individuals (HNI''s) and focus primarily on residential real estate projects of mid-sized developers.
Sanjeev Dasgupta, President (Real Estate), ICICI Venture Funds Management Co Said, “We will be looking at projects situated in cities such as Chennai, Delhi-NCR, Mumbai, Pune & Bangalore. It would take about 9 months to raise the capital,”
ICICI Venture had earlier raised Rs 2,465.5 1, in 2005. This focused on $550 million for its first realty fund, IAF residential, commercial and mixed land use projects.
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