Kolte-Patil Developers has entered into Rs 193 crore agreement with KKR for its Pune township Life Republic. The global investment firm KKR has committed Rs 193 crore in Kolte-Patil I-Ven Townships (Pune) (KPIT), a joint venture of Koite-Patil and ICICI Venture Funds Management Company. KPIT is developing Life Republic, a 383-acre township located in Pune’s IT hub, Hinjewadi.
KPIT will utilize the funds from this investment to attain financial closure at R1 sector of Life Republic, meeting working capital requirements and reducing cost of outstanding debt attributable to the development.
Kolte Patil Developers is a leading real estate company. The company has developed and constructed over 50 projects including residential complexes, commercial complexes and IT Parks covering a saleable area of approximately 15 million square feet across Pune and Bengaluru.