Date:08/10/2005 URL: http://www.thehindubusinessline.com/2005/10/08/stories/2005100803530600.htm

Back Dewan Housing to float realty venture fund

Our Bureau

Mumbai , Oct. 7

DEWAN Housing Finance Ltd has obtained the Securities and Exchange Board of India (SEBI) registration for a real estate venture fund.

The close-ended fund has target corpus of Rs 250 crore along with a greenshoe option of Rs 100 crore, said Mr Arun Goel, CEO, DHFL Venture Capital India Ltd.

The fund comes with a term of seven years. The potential investors in the fund are banks, financial institutions, high networth individuals and corporates, he said.

Called Dream Fund-1, it will be invested fully over a period of one-and-a-half to two years.