Leverage India Fund raises $153mn

Leverage India Fund, a private equity fund sponsored by IL&FS, Punjab National Bank and Taib Bank of Bahrain, has raised $153 million from foreign and domestic institutional investors.

The fund will be managed by IL&FS Investment Managers (IIML), and will invest in sectors like infrastructure, life sciences, textiles and IT.

IIML now has over $400 million under active fund management.