Realtor Shivalik Group receives Sebi nod for Rs.300-Cr AIF

Ahmedabad-based real estate developer Shivalik Group has received regulatory approval from the Securities and Exchange Board of India (Sebi) for its first fund - Shivalik Investment Fund - a Category II AIF (Alternative Investment Fund).The proposed AIF aims to raise INR 300 crore through private placement, including INR 150 crore green shoe option exercisable at the discretion of the investment manager.