US fund to invest $100 mn in India | business | Hindustan Times
  • Sunday, Jul 22, 2018
  •   °C  
Today in New Delhi, India
Jul 22, 2018-Sunday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

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.

business Updated: Jan 03, 2006 19:32 IST
Reuters
Reuters
PTI

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.