ASK Group

ASK Property Fund and India Sotheby's International Realty launch a Rs 500 crore equity platform with Amavi by Clarks to invest in branded luxury second homes across key destinations

Auto ancillary player ASK Automotive on Monday said it has mobilised a little over Rs 250 crore from anchor investors ahead of its initial share sale which opens for public subscription on Tuesday. The company has allotted 88.71 lakh equity shares to 25 funds at Rs 282 apiece, which is also the upper end of the price band, according to a circular uploaded on the BSE website. At the price, the company has garnered Rs 250.17 crore from anchor investors. Morgan Stanley Asia (Singapore) Pte, Copthall Mauritius Investment Ltd, BNP Paribas Arbitrage, Societe Generale, Goldman Sachs Fund, SBI Life Insurance Company, ICICI Prudential Life Insurance Company, Bajaj Allianz Life Insurance Company, Nippon India Mutual Fund (MF), Tata MF and Edelweiss MF are among the anchor investors. The IPO is an offer for sale (OFS) of 2,95,71,390 equity shares by promoters -- Kuldip Singh Rathee and Vijay Rathee. Since the IPO is completely an OFS, the entire proceeds will go to shareholders divesting the

Old Bridge Capital Management, which rece­ived the mutual fund licence in September, has filed papers with Sebi for its first scheme

Realty firm Shriram Properties Ltd (SPL) and ASK Property Fund on Wednesday announced a joint investment of Rs 206 crore in a residential project in Chennai. The joint investment is "towards 100 per cent of development rights in an ongoing project in Chennai, through SPL's wholly owned subsidiary Shrivision Elevations Pvt Ltd." The project acquisition formalities were completed and is being launched as "Shriram 122 West" shortly. With a total saleable area of 1.9 million square feet spread across two phases, the project has an aggregate revenue potential of Rs 1,200 crore in the next 5 years. The project comprises of around 1,900 residential units, predominantly targeting the mid-income group.

The project, Shriram 122 West is the second joint investment by the co-investment platform set up by ASK & Shriram in November 2022

UCITS is a regulatory framework of the European Commission for management and sale of mutual funds

Blackstone has bought 74 per cent in Advent International-backed ASK Group for about Rs 7,400 crore, reports said

Diversification at a lower cost said to be among the key reasons for such structures

The fund manager feels there is good demand from first time homebuyers and developers need capital in the current scenario

Yadav had spent over a decade with Aditya Birla Capital's mortgage and real estate business and at last as the CEO of the company's real estate fund for two years

This is the first domestic property fund raising by any fund manager this year

Advent International bought 40% in ASK group recently