The platform for fractional real estate ownership, hBits, intends to raise more than Rs 5 billion through an Alternative Investment Fund (AIF) in order to invest in commercial real estate, including projects for offices, data centres, and warehouses.
This will be the first time a fractional ownership platform in India has raised such a fund. In order to raise money, the company will use both domestic and foreign capital, depending on how the markets react to its initial market activity.
In the upcoming 12 months, the company hopes to have Rs 10 billion in assets under management thanks to the proposed new fund and additional expansion activity. The company was founded in 2019 and has Rs 1.5 billion in current assets under management.
