Holani Group secured approval from the Securities and Exchange Board of India (SEBI) earlier this year to operate as an Alternate Investment Fund (AIF) manager. The fund also has a green shoe option to raise an additional Rs 100 crore.

“We are confident that our sector-agnostic approach, thorough research and careful risk management will generate long-term value for investors, while promoting innovation, entrepreneurship and economic development in India,” Ashok Holani, Director of Holani Consultants was quoted as saying in a communique.

Managed by Holani Capital Advisors LLP, the Category I AIF fund is attracting investments from a variety of sources including high-net-worth individuals, corporations, institutional investors, and alternative investment funds.

Holani Consultants offers a range of financial services including IPO management, business valuation, financial advisory, and stockbroking. The company has experience supporting valuations for private placements and managing SME IPOs.