The Kozhikode-based Secura Investment Management (India) Pvt Ltd has launched its second scheme of Secura India Real Estate Fund with a fund size of Rs 50 crore.

Secura India Real Estate Fund is the first SEBI registered real estate venture capital fund in Kerala.

This is the first Sharia complied venture capital fund in India as well. Trustee of the fund is IL&FS Trust Company Ltd, Mumbai.

The company promoted by Hi Lite group, had started scheme one in 2009 and the payback of investment to investors had already started after successfully implementing real estate projects at Kozhikode.

The Scheme 2 is open with a minimum investment of Rs 5 lakh, and no maximum limits. The fund will invest in sectors related to real estate activities in Kozhikode and Kochi.

The investments and operations of the fund shall be subject to the compliances of Islamic Finance rules, as advised by the Shariah Advisor to the Fund, and Taqwa Advisory & Shariah Investment Solutions Pvt Ltd, Mumbai, a press release said.

(This article was published on November 27, 2012)
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