DHFL arm Arthveda for Rs 300 cr infra fund
Arthveda, a subsidiary of Dewan Housing Finance (DHFL) company, is set to launch a Rs 300-crore infrastructure fund by mid-2012. Sachin Dave reports.business Updated: Jan 22, 2012 22:28 IST
Arthveda, a subsidiary of Dewan Housing Finance (DHFL) company, is set to launch a Rs 300-crore infrastructure fund by mid-2012.
At present, Arthveda does not have a presence in the infrastructure. Arthveda, in December last year had launched-Star-a Rs 200 crore real estate fund that would focus on tier 3 cities for investment. "Our first priority is to first close the real estate fund, and we hope to do so by March end. After that there is certainly a plan to launch an infrastructure fund anywhere between Rs 250 to Rs 300 crore corpus," said Bikram Sen, CEO, Arthveda.
The infrastructure fund is expected to be a tier 2 and tier 3 focused fund. The company would be targeting domestic high net-worth individuals for raising funds. For the infrastructure and the real estate fund, Arthveda would be utilising DHFL's data and research based that to identify projects where investment could be made.