Mumbai: Mortgage lender LIC Housing Finance plans to launch its real estate-focussed venture capital fund along with its parent Life Insurance Corp of India by September-end, its top official said on Monday.
“We are looking for another partner. Talks are on,” director and chief executive R.R. Nair told Reuters over the telephone.
He did not give any details.
The real estate venture capital fund would have an initial corpus of Rs5 billion, he said.
The fund would be initially looking at financing real estate projects in India, Nair added.
At 11.41 am, shares of LIC Housing Finance were up 0.47% at Rs583.10 on the BSE.