KKR which is a global investment firm will invest Rs.193 crore in Kolte Patil Developer’s township at Pune.

The company in a press release stated, “The company has announced that global investment firm KKR has committed Rs.193 crore in Kolte-Patil I-Ven Townships (Pune) (KPIT), a joint venture of Kolte-Patil and ICICI Venture Funds Management Company.”

KPIT is developing Life Republic township of 383 acre which is located in Pune’s IT hub, Hinjewadi.

The funds from the investment will be used by the joint venture for attaining financial closure, meeting working capital requirements and reducing cost of outstanding debt attributable to the development.

Further Gopal Sarda, the company’s group CEO stated, “At Life Republic, we are developing a full-amenities township focused on Hinjewadi’s digital economy workforce. With our new partnership, we see this landmark project accelerating further to meet the rising aspirations of middle-income home buyers.”

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