Aditya Birla group today announced its maiden private equity fund with an initial commitment of $100-million and said that it has picked up stake in the Bombay Stock Exchange for an undisclosed amount.
The fund--Aditya Birla Private Equity Fund--targets to collect $250-million over the next few quarters, Aditya Birla Private Equity funds' Managing director and Chief Executive Officer, Bharat Banka, told PTI here.
Banka, however, did not elaborate on the stake that the fund has picked up in the BSE and said the stake purchase was as part of the demutualisation of the bourse.
Banka said the group has been planning to launch its PE business for about an year.
Apart from investment in BSE, the fund has also invested in apparel retail chain V Mart by picking up 26 per cent stake in the company, which operates in north and central India.
Banka said that the fund is seeking investments from HNIs and institutional investors from India and abroad.