Motilal Oswal Real Estate raises Rs 1,150 crore

Motilal Oswal Real Estate (MORE) has raised Rs 1,150 crore for its fourth realty fund from high net worth individuals to invest in housing and commercial projects across six major cities, a senior company official said. The fund raising exercise for its India Realty Excellence Fund IV (IREF IV) started in September 2018, and now the final closure has been achieved with a commitment of Rs 1,150 crore. "We have raised Rs 1,150 crore for our fourth fund during a very challenging period," MORE Director & CEO Sharad Mittal told. The company has already made an investment commitment of around Rs 550 crore in nine projects from this fourth fund, he added.