JM Financial launches Rs 1,000 crore real estate fund
Privately operated mutual fund company JM Financial Asset Management has raised a Rs 1,000 crore early-stage real estate fund to address the sector's financing gap. This fund will provide debt capital to developers for land acquisition and approval costs.
As per the firm, the aim is to raise Rs 1,000 crore, with likely first close of Rs 500 crore, and the proceeds of the fund would be utilized for providing debt capital to established developers in metro cities.
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