Chennai: ICICI Prudential PMS Real Estate Securities Fund has taken Rs 62-crore equity in the Chennai-based Sabari Inn Pvt Ltd to fund the latter''s Rs 250-crore expansion project, phase-I. The Fund has also indicated eagerness to bring in substantial investments for the next phase of expansion too. Sabari Inn Pvt Ltd, said the company mulls to have at least 15 hotels by 2011-12. It currently has two four-star properties in Chennai 70-room Quality Inn Sabari in T Nagar and 90-room Quality Hotel Sabari Classic on Old Mahabalipuram Road (OMR), which the company soft-launched a couple of months ago.
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