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Kolte Patil Developers completes buyout of ICICI Venture's 50% stake in Life Republic Township Project

Capital Market 

Kolte Patil Developers announced that the Company has completed the third and final tranche payment of Rs. 70 crore to India Advantage Fund-III (IAF-III) and India Advantage Fund-IV (IAF-IV) managed by ICICI Venture Funds Management Company Limited (ICICI Venture) for the buyout of their 50% stake in KPDL's flagship township project - Life Republic.

As indicated earlier, the payment has been largely funded through internal accruals.

The current disbursement follows the second instalment of Rs. 70 crore paid out in November 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Sat, November 28 2020. 11:01 IST
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