Kotak Realty Fund invests Rs 155 crore
Private equity fund Kotak Realty Fund has invested Rs 155 crore in a residential project of a Chennai based builder Alliance Infrastructure Projects.
“The money will be used to give exit to IndoStar Capital and Reliance Capital from a residential project. The deal is in the form of a structured debt,” said Vikas Chimakurthy, senior executive director, Kotak Realty Fund.
“ Majority of the capital will be used to refinance the existing loan. Some part of the capital will also be used to speed up construction of orchid spring, upper mid income residential project in Chennai,” said Suneel Bommireddy, vice-chairman, Alliance Group.