hBits Asset Management to raise Rs 500 cr
image for illustrative purpose
New Delhi: hBits Asset Management, a wholly-owned subsidiary of fractional ownership platform for commercial real estate hBits, is planning to raise Rs 500 crore under its AIF (alternate investment fund) by March 2025, a top company official said. “We started the marketing process for AIF recently, about a month ago, and already have about Rs 50 crore in soft commitments.
So the idea is to reach first close by March and then close out the fund maybe in 9 to 12 months to raise the full Rs 500 crore,” hBits Founder and CEO Shiv Parekh told PTI. Parekh informed that he is targeting about Rs 200-250 crore by March 2024, before the first close of the AIF. “... By March, once we do the first close, we should start acquiring properties for the AIF in the new financial year (2024-25),” he said.
He further noted that the minimum ticket size for investment in the AIF is Rs 1 crore and it is open for individual investors, institutions, and foreign institutions.
