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US fund to invest $100 mn in India
Equity firm Siachen Capital, which is dedicated to India, plans to invest $100 mn in Indian real estate firm Nitesh Estates.
Published on: Jan 3, 2006, 19:32:00 IST
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New York-based private equity firm Siachen Capital LLC, which is dedicated to India, plans to invest $100 million in Indian real estate firm Nitesh Estates Pvt Ltd, the Bangalore-based Nitesh group said on Tuesday.
The fund, whose investors include Miguel Forbes of the Forbes magazine empire, will invest $30 million first to develop office and residential properties and the rest later to develop townships, Nitesh said in a statement.
India last year allowed 100 per cent foreign direct investment in townships and housing projects. The country's $17-billion software and office service industry is fuelling demand for homes and business parks in Asia's third-largest economy.
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