Amplus Capital raises Rs 200 crore from second realty fund

Amplus Capital has raised Rs 200 crore under its Amplus Realty Fund-II and plans to deploy the proceeds in mid-sized residential projects in five metros.
The Lalbhai Group-led Amplus Capital made its first closure with a total commitment of Rs 200 crore of the targeted corpus of Rs 300 crore.
"This is our second fund and we have successfully raised Rs 200 crore. We will be investing in mid-sized residential projects across five mid-markets including Mumbai, Bengaluru, Pune, Chennai and Ahmedabad," Amplus Capital Advisors Managing Director Anuranjan Mohnot told PTI here today.
He said the fund will invest for majority stake within a ticket size of Rs 20-40 crore per transaction.

"This is among the few funds focused on early-stage equity investments in mid-sized residential real estate projects with execution period of 36-42 months. We hope to deploy the funds in the next two years," Mohnot said.
In 2013, the company had raised Rs 135 crore under its first fund Amplus Realty Fund-I and has invested across eight projects in Bengaluru, Chennai, Pune and Ahmedabad, with prominent names in the real estate space including Shriram Properties, XS Real Properties, and Assetz Homes.

Th company has so far completely exited one project with an IRR of 48 per cent and made four partial exits out of the eight investments.

"We hope to exit the entire fund in the next two years. We expect the first fund to deliver 25 per cent IRR at the fund level," he added.
Commenting on the fund raising, Amplus Co-Founder Jayesh Shah said, "we expect the participation level to increase by the final closing of Fund II. This has been a consequence of establishing a strong track record in our first fund with profitable and visible exits. We look forward to scale up this platform gradually.