ILFS IML plans to invest Rs 6000 Crores in roads, ports and power sectors
FDI in real estate as announced by the finance minister Arun Jaitley has already started picking momentum in the real estate market. IL&FS Investment Managers Ltd or ILFS IML, the private equity arm of the local infrastructure financier Infrastructure Leasing & Financial Services Ltd or IL&FS, will raise roughly $1 billion (Rs 6,000 crore). This fund will be raised primarily fromoverseas investors and will be used to invest in roads, ports, power and real estate developers.
If the funds raised by the above mentioned sectors are exhausted, then they will also be looking at other sectors. India’s largest listed private equity fund ILFS IML invested $3.2 billion in the infrastructure companies, real estate and other ventures. This includes investments in city gas distribution, retail and media.
They also have started discussions with their overseas investors and could complete the fund raising by December from pension and endowment funds apart from raising funds from family offices.
Archana Hingorani the chief executive officer and executive director of ILFS IML stated that as of date the company has deployed everything, made substantial divestment and they will have to exit another $1.8 billion. She also mentioned that the funds across all the three verticals are largely deployed and are at different stages of maturity. Some of them are even in exit mode while some assets are being developed.
Source- The Economic Times
IL&FS, IL&FS Investment Managers Ltd, IML plans to invest Rs 6000 Crores, Real Estate Developers, Real-estate market
