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Motilal oswal Real Estate to raise Rs 800 cr through IREF-V

Motilal oswal Real Estate to raise Rs 800 cr through IREF-V

Hyderabad, Jan 13 (UNI) Motilal Oswal Real Estate (MORE), the real estate private equity arm of Motilal Oswal Financial Services Limited, is looking to raise up to Rs 800 crore through its recently launched fifth real estate fund-- “India Realty Excellence Fund V (IREF V) to focus on construction finance in post approval projects.

MORE till date has invested capital in the real estate sector through four real estate funds ( totaling Rs 3,700 crore) and PMS/ NCD investments.

The earlier three funds (IREF II, IREF III and IREF IV) focused on early stage investments, the company said in a release here on Thursday.

The Fund plans to deploy the capital in mid-income/ affordable residential projects across the top 7 cities in India (Mumbai, Delhi-NCR, Pune, Bengaluru, Chennai, Hyderabad and Ahmedabad) while selectively investing in commercial projects.

IREF V would focus on structured debt investments with established developers and undertake 12-15 transactions of Rs 60-80 crore each.

The Fund has been set up as an alternate investment fund (AIF Category II) registered with stock market regulator SEBI.

MORE expects to achieve first close by March 2021 and conclude fund raising in the next 6-9 months.

MORE is part of Motilal Oswal Private Equity (MOPE), which is the alternative investments platform of Motilal Oswal Financial Services Limited. The cumulative AUM under MOPE is more than INR 7,000 crore.

Mr Vishal Tulsyan, Managing Director & CEO, MOPE said we believe that the sector is undergoing a structural shift and is at the cusp of a transformation. We will continue to grow our presence in this space through value investing over the coming years, he said.

Mr Sharad Mittal, Director & CEO of MORE said in the last six months, following the nation-wide lockdown, we have seen a strong recovery in demand fuelled by multi-decade low mortgage rates, five-year stagnated prices, reducing demand-supply gap in inventory, Government support through stamp duty reductions and the genuine need of staying in an owned home during the COVID pandemic.

These factors will lead to a resurgence in residential demand over the next few years. We believe that this is an opportune time to launch our next fund which will focus on construction finance and post-approval funding, Mr Mittal said.

With the launch of this fund, MORE will provide a full financial solution to their developer partners; early stage financing through their earlier funds and post approval stage/construction financing through this new fund.

“This is our fifth fund and the majority of our investors would be repeat investors from our previous funds.'

UNI KNR CS 1714

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