January 2, 2024: hBits Asset Management Private Limited (hBits AMC) has issued a clarification regarding a previously issued announcement on the launch of CAT II AIF. In the second half of 2023, hBits AMC received approval from the Securities and Exchange Board of India (SEBI) to launch a real estate fund under CAT II AIF worth INR 500 crore.
hBits AMC, which operates as an independent entity is designed to cater to pan-India Grade-A projects, with a primary focus on commercial real estate assets. This includes a wide range of commercial projects such as offices, retail spaces, data centers, warehouses and hospitals that are at various stages of development, including under-construction, pre-leased and other completed/operating assets spanning across India.
On the other hand, hBits fractional ownership platform, registered as hBits Proptech Private Limited, combines real estate and technology and enables investors to invest in high-yield, Grade-A assets such as offices, warehouses and commercial spaces at a ticket size as low as 25 lacs.
The two entities are carrying out separate businesses with distinct structures.