DMI Finance to raise 1,000 cr realty fund
DMI Finance is in the process of raising 1,000 crore to invest in the real estate sector. The company was founded by the former Citigroup employees Shivashish Chatterjee and Yuvraj C Singh.
The company will target an equity and debt corpus of 500 crore each and it will target over 20% internal rate of return, which will tap the company’s second fund, in net domestic and foreign investment within next 12-18 months. The company raised 500 crore in 2008-09 , has invested 90% as in its portfolio already, mainly in the real estate sector.
The Delhi based NBFC will invest now mainly in residential assets across the National Capital region (NCR), Bangalore and smaller towns such as Jaipur, Chandigarh and Ludhiana.
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