And the valuation issue has hit performances by recent debutantes such as Mumbai-listed Akruti Nirman Ltd. Kotakâ??s first fund joined private equity group Warburg Pincus by taking a $10-million stake [...] Speaking on the sidelines of a conference in Mumbai, Krishna said he was looking to take equity stakes in developers and exit through initial public offerings in three or four years time. Kotak Realty Funds is raising $350-million for realestate joint venture projects in India and stakes in developer projects, to help the latter, who have witnesses a narrowing of their fund sources.
Thermage Before and After

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