HSBC raises $1.5 billion; plans to invest $600 million in Indian realty

Mumbai: Hongkong and Shanghai Banking Corporation which recently
raised $1.5 billion, plans to invest 40 per cent of that (nearly $600 million) in Indian
realty, reports citing company officials said.

This is in addition to its growth fund investments of about $600 million in India, a report quoted Naina Lal Kidwai, HSBC India''s country head, as saying.

Private equity firms like The Carlyle Group, JP Morgan Chase & Co, and the private equity arms of Citigroup and Morgan Stanley have started investing in Indian property in a big way since the easing of investment rules in 2005.

Kidwai also said the bank was in talks to lend $500 million to Wipro Ltd, India''s third-biggest software services exporter, the report added.