Startup hBits, a tech-enabled fractional ownership platform, on Thursday said it has received markets regulator Sebi’s approval to set up alternate investment fund of Rs 500 crore for investment in commercial real estate.
hBits helps investors in having fractional ownership of commercial assets. It has so far helped in acquisition of 9 rent-yielding properties.
In a statement, the company said it has obtained regulatory approval from the Securities and Exchange Board of India (Sebi) for its CAT II Alternative Investment Fund (AIF).
“This approval grants hBits the opportunity to establish an AIF fund with a substantial Assets Under Management (AUM) of Rs 500 crore,” it added.
Investors who participate in hBits’ AIF can anticipate an impressive target Internal Rate of Return (IRR) of 18-20 per cent.
CAT II AIF is designed to cater to pan-India Grade-A projects, with a primary focus on commercial real estate assets. This includes a wide range of commercial projects such as offices, .
| Subscribe To Our Free Newsletter |
