Rs. 1157 crore has been achieved by Modi's Gift City at the end of Ph-1 financial closure

Q: Hi, Hi, Modi's mega-dream project, Gujarat International Finance Tec-City (GIFT City), having achieved financial closure for its Phase-I infrastructure development.

Sunil Kulkarni, Pune

13th June 2014

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Replies (2)

Hey Guys,
As per the recent news Reliance Capital has received 5 laks square feet of space in Gujarat International Finance Tec-City (GIFT) in the International Finance Service Centre (IFSC), Special Economic Zone. It is heard that the company will base its Global Alternate Investment Funds, its commodity exchange and other international business in this location.

Lalit Verma, Mumbai

8th June 2015

Comment

Hi Lalit,
It is also heard that this willbe the largest space taken by any private entity in IFSC. The announcement made on 3rd of June 2015 and the allotment was made between Ramakant Jha, MD and Group CEO, GIFT Company Limited and the letter of allotment was handed over to Sam Ghosh, Executive Director, Reliance Capital. Am i right?

Devesh Kumar, Ahmedabad

8th June 2015

Right Lalit,
The Board of GIFT Company approved their request. The allotment is expected to bring in investment of around Rs. 200 crore and will generate employment for around 2500 persons in next 3 yrs.

Lalit Verma, Mumbai

8th June 2015

Well Lalit,
The Reliance Capital has already raised a fund of Rs. 2000 crore under its Alternate Investment platforms and funds in the last 2 years and they look forward to setting up their various alternate business in this facilities. They have started the process for necessary approvals from the regulators, and expect to launch the proposed business here shortly.

Devesh Kumar, Ahmedabad

8th June 2015

Hi,
Do you know that Narendra Modi's mega-dream project, Gujarat International Finance Tec-City having achieved financial closure for its Phase I infrastructure development within a week of Narendra Modi taking oath as the Prime Minister, .

Suraj Kalled, Pune

13th June 2014

Comment

Yah, i heard a lot on this matter. Narendra Modi's GIFT City, being developed as India's only International Financial Services Centre, has been remembered as a global financial and IT services hub, designed to be at or above par with globally-benchmarked financial centres like those at Shinjuku in Tokyo, Lujiazui in Shanghai, La Defense in Paris and London Dockyards.

Priyanka Vats, Pune

13th June 2014

@Priyanka,
It will also have a specialised university to offer world-class education and training in financial services. For this, the University of Liverpool, UK, is developing curricula in association with some American universities.

Suraj Kalled, Pune

13th June 2014

@suraj,
It is hope that the launch of this university will be in the year 2015-16.Am i right Suraj? In my opinion every state of India there should be a world-class education and training center.

Priyanka Vats, Pune

13th June 2014