 "Ranjan Pai-Mohandas Pai realty fund for tier II developers may wind down")
In a telling sign of challenges faced by second-rung real estate developers, former Infosys chief financial officer T V Mohandas Pai and Manipal Group scion Ranjan Pai, along with other investors, could wind down a real estate fund floated by them to invest in tier II developers, said a source in the know.
The fund called Neev was floated in 2016 and the partners were planning to raise Rs 2.50 billion initially for the fund. Of that the drawdown has been Rs 900 million so far, invested across three deals.
The original plan was to take the fund
The fund called Neev was floated in 2016 and the partners were planning to raise Rs 2.50 billion initially for the fund. Of that the drawdown has been Rs 900 million so far, invested across three deals.
The original plan was to take the fund
