InvestingThe Bangalore-based QVC Realty, which had raised $100 million of venture capital funding in April this year from IL&FS Investment Managers Ltd (IIML), has already committed $80 million to date.
IIML is the private equity arm of Infrastructure Leasing and Financial Services Ltd. (IL&FS)
FundingQVC currently has two township projects of about 10 million sq. ft in Gurgaon.
QVC Realty has a land pool of 300 acres.
QVC will go for a second round of funding by mid-2008 and plans to raise up to $200 million.
Prakash Gurbaxani, QVC chief executive officer, said a major part of the new funding will also come from IILM and that QVC may go to the market in order to raise funds, if the company thinks it necessary to do so.
1. First venture-funded Indian real estate company, QVC Realty of Bangalore, plans to invest Rs 2,500 cr for two townships in Gurgaon
2. QVC Realty, Bangalore, India’s first venture capital funded real estate company is looking to raise around $100-$200 million from private equity firms
real estate real estate investment Pune real estate investment blog QVC Realty Pvt. Ltd. India’s first venture capital-funded real estate company investment plan 2008 real estate project Indian real estate Pune real estate real estate news Bangalore real estate IL&FS Investment Managers Ltd (IIML) Infrastructure Leasing and Financial Services Ltd. (IL&FS) township Gurgaon real estate land land bank Investing funding livemint private equity (PE) Deepti Chaudhary, livemint