Taurus Investment Holdings, in partnership with Sage Capital, is planning to raise a INR 5 billion ($61.4 million) fund to invest in India’s real estate sector.
The fund will invest in mixed-use, office and mid-scale residential projects in the Indian real estate market, with a focus on Tier 1 and high-growth Tier 2 cities in South and West India.
According to The Economic Times, cities such as Trivandrum, Visakhapatnam, Coimbatore, Bhubaneshwar and Trichy will be under consideration. The companies plan to develop a portfolio of projects worth more than $1 billion during the next five years.
“We are in the process of applying for SEBI (Securities and Exchange Board of India) approval for our AIF, and have also started meeting investors in parallel,” said Ajay Prasad, managing director of Taurus Investment Holdings India. “The proposed real estate–focused fund aims to raise a total of $200–$250 million from foreign and domestic investors.”
