Motilal Oswal Private Equity (MOPE) is looking to raise a Rs 4,000 crore private equity fund from domestic and global investors, a top executive from the fund manager said on Tuesday.
About 18 to 20 per cent of the fund will be contributed by Motial Oswal.
The fund manager is looking to raise 50 per cent of the fund domestically and remainder from abroad, Tulsyan said.
“We plan to do fist close by end of the calender year and complete fund raising in 6 to 9 months,” he said.
MOPE is looking at a internal rate of return of 30 per cent, he said.
MOPE’s first fund, a 2007 vintage, Rs 550 crore ($ 115 million) fund made 13 investments. Overall, Fund 1 gave 6x+ returns and clocked an IRR of nearly 27 per cent at the gross level in rupee terms.
The PE firm’s second fund, raised in 2013, was a Rs 1,000 crore ($ 155 million) fund and made 11 investments, of which one exit is already completed while multiple others are underway.
MOPE raised its third &latest Rs 2,300 crore ($320 million) fund in 2018 – this fund is already 90% committed across 9 investments.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.