Reliance Equity Private Advisors (India) Ltd (REAIL), the private equity (PE) arm of Reliance Capital, has made its first PE investment of Rs 100 crore into the parent company of Pathways — an education provider — after having raised close to Rs 1,500 crore in its fund raising exercise over the past six months.
While the company declined to comment on the total amount it has raised, banking sources confirmed that the amount raised as of now is around Rs 1,500 crore.
“We received participation from 12 leading banking institutions in India and are in talks with 8-10 others to raise funds and will invest the funds as a continuous process,” said Ramesh Venkat, CEO, REAIL.
Going forward, the PE fund is looking to raise funds from foreign markets in the next couple of months as it wants to take advantage of the opening up of foreign markets after the global financial crisis.
“We will look to raise funds from the foreign institutional investors (FIIs) who typically come from US, Europe, Hong Kong, Singapore and some from Middle East and are confident to do well,” said Venkat.
While the company declined to assign a target amount that it plans to raise and the return its expects, it said that it would invest the funds in the sunrise sectors of the Indian economy.“We see high growth in the education sector as the private participation in the sector is increasing dramatically. Also we are looking at logistics andtransportation, hospitality and healthcare,” said Venkat.