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Home / State News / 2010 / June 2010 / June 1, 2010
ICICI Venture to raise Rs 1,000 crore
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ICICI Bank

ICICI Venture to raise Rs 1,000 crore
To finance real estate residential projects in six to seven cities

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ICICI Venture to raise Rs 1,000 crore

To finance real estate residential projects in six to seven cities


ICICI Venture plans to raise Rs.1,000 crore within a month to finance real estate residential projects in six to seven cities. Speaking to media persons on the sidelines of a function to commission the first phase of WaveRock project developed by Tishman Speyer India Pvt.Ltd. In partnership with ICICI Venture at IT SEZ at Nanakarmguda on Tuesday, ICICI Venture President Sanjeev Dasgupta said the fund would be raised from high net worth individuals and projects in the range of 50 to 70 crore would be financed.

Dasgupta said the total amount to be raised would include Rs.500 crores as greenshoe option. He said the returns in three to four years would be around 20 percent for companies and investors. He further added that ICICI Venture had recently raised $550 million as private equity fund and had already committed $350 million for various projects.

Chairman and co-CEO of Tishman Speyer Jerry Speyer said that several projects of his company were in the pipeline including Mumbai and Delhi. He said the firm had more than adequate capital for India operations.

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