Unitech launched Rs 300-crore V C fund for its slum redevelopment projects

Mumbai: Unitech Group, which runs the country's second-largest developer, Unitech Ltd, launched a Rs 300-crore venture capital fund to raise funds for its slum redevelopment projects in Mumbai.

The fund will have an initial target of Rs 200 crore and a greenshoe option of Rs 100 crore.

The group had promised a fixed coupon rate of eight per cent and overall returns of 20 per cent to investors.