Religare Enterprises is likely to shut down its pioneer Rs.600crore private equity fund, commenced in affiliation project with Milestone Capital by April 2010.
Additionally, the company would be seeking to implement the green-shoe alternative of increasing another Rs.200crore for the India Build out Fund I based on market scenario.
The affiliation unit is in talks with several institutional investors for finances.
At present, the company is in higher discussions to entrust Rs.125crore for a couple of hospitals and an MBA preliminary school. The contracts are likely to be finalized in the following 4-6 weeks. Religare Venture Capital in June forayed into an affiliation with Milestone Capital for handling the fund.