PropShare Capital raising Rs 100 cr distressed strategy fund

PropShare Capital, a tech-enabled commercial real estate investment platform, is set to raise a Rs 100 cr Covid-related distressed strategy fund that will acquire rent-yielding assets that are at attractive valuations due to price erosion triggered by the pandemic.

"The launch of our second distressed strategy fund is the next logical step as we continue to capitalise on the window of opportunity that the pandemic has created – access to Grade A commercial assets at distressed prices,” said Kunal Moktan, cofounder and CEO of PropShare Capital.

The listing has already received an initial interest of more than Rs 600 cr and PropShare Capital plans to close this listing in the next 10 days.