TN gets SEBI approval to launch State Shelter Fund

: Tamil Nadu has received the nod from the market regulator Securities and Exchange Board of India (SEBI) to launch its State Shelter Fund for attracting investments in the affordable housing segment, Deputy Chief Minister of the State O Panneerselvam said here Saturday.

Panneerselvam, participating in an event, said, the Tamil Nadu government established the Tamil Nadu Infrastructure Fund which is the category-I Alternative Investment Fund.

"The government received the approval from SEBI to launch the Tamil Nadu Shelter Fund for affordable housing (segment)," he said at a conference on 'Innovative and Alternative Finance for Business and Infrastructure Development in India' organised by the United Economic Forum (UEF) Chamber of Commerce and World Islamic Economic Forum Foundation (WIEF).

The Deputy Chief Minister said,"The fund is a social impact fund to provide investors with profit besides getting social and environmental benefits."
On the Tamil Nadu Infrastructure Fund taking up projects, he said, "The first round of funding has been raised from both local and international investors."