IL&FS raises $95 mn from realty fund

IL&FS Investment Managers has raised $95 milion through its realty fund, being offered to the foreign investors.

IL&FS Investment Managers Ltd said on Tuesday that it has raised $95 milion through its realty fund, being offered to the foreign investors, taking the total fund size to $502.57 million.

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With this, the company had achieved the second closing for foreign investors to the Infrastructure Leasing & Financial Services Realty Fund, IL&FS informed the Bombay Stock Exchange.

The company had raised $340 million through the realty fund in its initial closing. IL&FS would also seek further commitments from international investors and expected to achieve a final closing shortly, it added.

The company's share closed at Rs 317, up 2.82 per cent at the BSE.