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Yatra Capital is the most active real estate fund especially in the mid-sized property category. The firm has been making deals as small as €3.9 million in an Agra mall to €20 million in a Calcutta SEZ project. The Euronext (Amsterdam) listed real estate investment company has invested €20.28 million (nearly Rs 115 crore) in Batanagar IT SEZ project coming up in Kolkata.
Yatra Capital's special purpose company, K2A Commercial will hold a 50 per cent stake in Riverbank Holdings Pvt Ltd, which is a joint venture between Bata India and Calcutta Metropolitan Group. The investment marks the first investment of Yatra from its proceeds of the follow-on offer (FPO) of €120 million in October 2007. Yatra had initially raised €100 million from Amsterdam-based Euronext of which it has already committed nearly €88.11 million.
The IT SEZ is a part of the Calcutta Riverside project which also includes an integrated township spread over an area of 262 acres on the banks of Hoogly river.The first phase of IT special economic zone will be completed by early 2010 and the entire project including the township is expected to be over by the last quarter of 2012.
Yatra has also made several other smaller investments such as $9.18 million in a 50-50 joint venture with Modi Build-Well Ltd in Gujarat, $23.5 million in Market City, Pune, $5 million in the Mumbai-based Phoenix Mills Ltd, $30.5 million in Pune’s Kolte Patil Developers, among others.
The fund is founded by ex-HSBC executive Ajoy Veer Kapoor and Rohin Shah, and backed by investors like Morley Fund Management, Fortis Investments and Standard Life. Yatra was the first Indian real estate company to list in Euronext stock exchange of Amsterdam. The fund’s focus is to invest in tier II and tier III cities of India, which will invest through Saffron Capital Advisors, an asset management advisory firm.

Related:
Rush To Tier II Cities: Yatra Capital Invests In An Agra Mall; Indore Hotel Seeks Funding
Yatra Capital To Raise $212 Million From An Equity Offering In The Netherlands
Yatra Capital Invests $9M In A Gujarat Project; To Raise $675 Million More