Mumbai: Real estate player IVR Prime has informed that Kotak India Realty Fund Ltd will invest Rs250 crore for developing the former’s realty projects.
Kotak India will invest Rs250 crore in IVR Prime’s multi -use integrated development projects, the realty player informed the Bombay Stock Exchange.
The company added that a few more realty funds are also inclined to join hands with IVR Prime for developing some of its projects.
IVR Prime Urban Developers is the real estate arm of Hyderabad-based construction and infrastructure company IVRCL Infrastructures and Projects.
It has a total land reserve of 2,850 acres around cities like Chennai, Hyderabad, Pune, Bangalore and Visakhapatnam.
Kotak Realty Fund, established in May 2005, is one of India’s first private equity funds with a focus on real estate and real estate intensive businesses.