Rs 250 crore raised by LIC Housing Finance
LIC Housing Finance Ltd has planned to invest in the real estate market in Bangalore. For that purpose they have raised Rs 250 crore by a real estate private equity fund.
According to a higher official of the equity firm, the amount is mostly raised from the institutional investors like banks and corporates.
The equity firm is hopeful about raising another Rs 50 crore by the end of June 2012.
LIC Housing finance is planning to invest the raised fund in urban real estate such as mid-income housing projects, IT parks and warehouses across tier I and II cities.
They are targeting the apartments of mid income category falling in the range of Rs 1,600-4,000 per sq ft.
There are many real estate focused funds in the market who are trying to gather fresh or follow-up funds to invest in Indian real estate. Few of them are like HDFC Property Fund, JP Morgan Asset Management, India Reit Fund Advisors and Kotak Realty Fund.
More related stories:
Sundaram Home Finance will raise Rs 2700 crore
Source: Times of India
LIC Housing Finance Ltd, PE investment in real estate, PE investors, Real Estate Market in Bangalore
