Ajay Piramal has had his eyes set on real estate and financial service businesses as the next big bet! The Chairman of Piramal Group gave fresh impetus to his ambitions by floating a Rs 15,000 crore fund aimed at financing real estate developers. This comes even as reports suggest that Piramal is looking to turn venture capitalist in a bid to ride the start-up wave. Under the new programme called ´Piramal Preferred Partner´, Piramal Fund Management will allow selected existing development partners to draw from a pre-sanctioned limit to pursue acquisitions. The effort is reportedly to give a fillip to deals for developers who can go ahead without worry. Surely, with a step as this taken by Piramal, developers are all smiles.
