ASK Group’s arm raises Rs 1,000 crore realty fund
ASK Group’s realty private equity arm ASK Property Investment Advisors said it has raised a real estate fund of Rs 1,000 crore.
ASK Group collected money from high net worth individuals (HNIs) and Ultra HNI investors across 10 cities in India in a partnership with private banking arms of institutions such as ICICI Bank, Future Capital and Standard Chartered Bank.
This is probably the highest fund amount raised from domestic investors by any real estate firm in the past four to five years, said Mr Sunil Rohokale, Managing Director of ASK Investment Holdings.
With this fund been raised, the realty firm’s assets value currently exceeds Rs 1300 crore and its maiden fund of Rs 326 crore raised in 2009-10 has been fully utilized.
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New ways for collecting funds from investors
Source: The Economic Times
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