Shivalik Group's debut fund receives SEBI nod for Rs 3 billion raise
The Shivalik Group, a real estate developer headquartered in Ahmedabad, has secured regulatory clearance from the Securities and Exchange Board of India (SEBI) for its inaugural fund, Shivalik Investment Fund, designated as a Category II Alternative Investment Fund (AIF).
The planned AIF is set to garner funds of up to Rs 3 billion through private placement, with an additional Rs 1.5 billion Green Shoe Option that can be exercised at the discretion of the investment manager.
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