Indiabulls plans Rs. 1,000cr for realty sector

In order to add to its project portfolio in real estate segment, the Asset Management Company's private equity fund is planning to raise Rs. 1,000-cr through its new real estate fund Indiabulls High Yield Fund, including a green shoe option of Rs. 500cr, said official sources, claiming that Indiabulls Asset Management's second real estate fund is coming after raising and deploying the first fund in the past one year. Indiabulls Real Estate Fund (IREF) had raised Rs. 600-cr under its first alternative investment fund scheme and has deployed it completely during the same period over four transactions. The new fund will have four-year tenure with an option of extending it by a year. Indiabulls High Yield Fund will seek investment opportunities in top 8 residential markets in the country, including Mumbai, Delhi-National Capital Region, Bengaluru, Pune, Chennai, Hyderabad, and Ahmedabad, said an industry insider.