Kolte Patil Developers completes buyout of ICICI Ventures 50% stake in Life Republic Township Project

Kolte Patil Developers completes buyout of ICICI Ventures 50% stake in Life Republic Township Project

Nov 28, 2020 11:11 IST capital market

Kolte Patil Developers announced that the Company has completed the third and final tranche payment of Rs. 70 crore to India Advantage Fund-III (IAF-III) and India Advantage Fund-IV (IAF-IV) managed by ICICI Venture Funds Management Company Limited (ICICI Venture) for the buyout of their 50% stake in KPDLs flagship township project - Life Republic.

As indicated earlier, the payment has been largely funded through internal accruals. The current disbursement follows the second instalment of Rs. 70 crore paid out in November 2019.

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