The Hindu Business Line : HDFC Property Fund to take off this year

THE current financial year will see the actual fulfilment of the HDFC Property Fund, which has received more than Rs 1,000 crore, the total target corpus for its initial scheme, said Mr Keki M. Mistry, Managing Director, HDFC Ltd.

The Fund, launched in association with State Bank of India, is to invest in equity and equity-linked instruments of companies engaged primarily in real estate in the country.

The total corpus includes a greenshoe option of Rs 250 crore. The fund is a seven-year close-ended one, with a minimum contribution of Rs 5 crore per investor, the target customers being banks, insurance companies, corporates and high networth individuals.

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