Mt. K Kapital raises over Rs 500 cr for maiden fund, invests in 5 Rustomjee projects across Mumbai
State Bank of India (SBI), ICICI Bank, pharmaceutical major Famy Care, family offices and high networth individuals (HNIs).
Over Rs 300 crore of the funds raised to date have already been committed towards five projects of the Rustomjee Group in some of Mumbai's prime locations and the fund is now exercising its green shoe option with a target of a final close shortly.
The identified projects for investments include projects in Bandra West’s Pali Hill and Mt Mary Road, Versova Beach in Andheri West, Dhuruvadi in Prabhadevi and one more in Pali Hill. The Versova Beach and one Pali Hill project have already secured the necessary approvals, with construction in progress and active upward sales.
“The strong response validates our goal of becoming a leading real estate development fund management company. With a distinct market advantage, we are committed to channelling the right capital into the real estate sector and remain bullish on investment opportunities in the MMR. The current performance of our investments and the selection of strategic locations for our projects have reaffirmed our investment thesis,” said Binitha Dalal, Founder and Managing Partner, Mt. K Kapital.
The fund is evaluating a robust pipeline of similar projects along with deal sizes between Rs 60-90 crore to strengthen its portfolio further.
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