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DLF's Rs 800cr VC fund to power construction biz

Published on Mon, Jul 07, 2008 at 20:36 , Updated at Tue, Jul 08, 2008 at 11:56
Source : CNBC-TV18

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The country's largest real estate developer, DLF, has decided to set up an Rs 800 crore venture capital fund to invest in construction equipment manufacturers, reports CNBC-TV18, quoting sources. It has already applied to market regulator Sebi for permission to launch this fund.

Sources said these investments would feed DLF's existing construction business. When contacted, the company said it cannot comment on account of Sebi guidelines. This fund is just the first off the block, and DLF plans to launch real estate private equity funds in India soon.

Disclaimer:

This information is source-based and has not been provided to the stock-exchanges.

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