Asipac to launch 2 new business units

Bangalore: Asipac Projects Pvt Ltd, a real estate project marketing company, on Tuesday announced the launch of two new strategic business units offering investment banking/asset management and procurement services. Mr Amit Bagaria, Chairman, Asipac, said that the company has already helped developers raise Rs 629 crore in equity funding and now has a mandate to raise Rs 561 crore of equity. The new business unit has set a target of Rs 1,600 crore in three years, according to Mr Baga ria.

The company is in talks with corporate houses that want to unlock large land holdings that they possess. Besides this, the company has also set up Rs 50 crore for seed funding for smaller developers. The procurement services division, will tap the Rs 80,000-crore unorganised procurement market.