Delhi: Solitaire Capital India, SEBI-registered venture
capital fund is launching its inaugural capital growth
scheme christened Solitaire I, a close-ended offer, to
raise capital via private placement.
fund is offering 220 million units with a face value of
Rs10 in two tranches, with a green shoe option to raise
another 80 million units of Rs10. The first tranche is
expected to remain open for subscription till November
investment objective is to generate capital appreciation
and income generation through investments in developing
real estate projects, either solely or in joint venture
with other real estate developers and landowners.
such the scheme will invest predominantly in equity-linked
instruments of development projects in residential, IT
and commercial infrastructure.
the investment strategy, Sanjiv Ahuja, CEO, Solitaire
Capital Advisors Pvt Ltd siad out, "The Scheme would
invest in townships, residential or commercial complexes,
industrial and IT parks, or any mix of these. The investment
commitment per project would vary depending on the risks
involved, location and business plan of the project."
Pal Khattar, chairman, "The government of India has
formulated policies encouraging investments in the real
estate sector from domestic as well as foreign investors
/ developers. The scheme will leverage this opportunity
to fund profitable ventures in high growth cities in India"
to a press release, the administration and management
of the fund will be in the hands of investors with international
experience in private equity, finance, banking and real
who have been invited to participate in the scheme include
Indian financial institutions; Indian corporates; high
net worth individuals; as well as non-resident Indians
(NRIs); and persons of Indian origin (PIOs).
press release adds that the fund complies with all SEBI's
regulations pertaining to venture capital.
Capital, India, was established as a trust in March 2005
invest in the real estate sector in India. It is a domestic
venture capital fund (VCF) registered with SEBI under
its venture capital regulations.