IL&FS has planned to raise funds for Indian realty
India’s largest homegrown private equity firm, IL&FS Investment Managers Ltd (IIML) has planned to launch a fundraising program under the name of Yatra Capital.
Yatra Capital is an India-focused real estate investment firm and acquired by IIML two years ago.
Yatra Capital has already raised 220 million euro for investment in the real estate in India.
The capital firm is waiting for its upcoming annual general meeting for getting shareholder’s approval to raise fresh money for the real estate in India.
Yatra Capital has invested across asset class in India but its maximum exposure is in the retail segment.
In retail real estate it has invested in doing marketing for city projects of the Mumbai-based realtor Phoenix Mills Ltd. It also has enterprise level stake in Saket Engineers Pvt Ltd and the Phoenix Mills.
IIML is also looking to raise its third Indian realty fund as IL&FS India Realty Fund (IRF) III, with a targeted corpus of $500 million, in the current financial year.
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Source: VCCircle
fundraising program, IL&FS Investment Managers Ltd, Indian realty fund, Phoenix Mills Ltd, Private equity firm, Real estate in India, real estate investment firm, retail real estate, Saket Engineers Pvt Ltd, Service Tax on Under construction property, Yatra Capital
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