Investors who intend to stay put should think like a private equity fund manager, be prepared for a long and rough ride and play a high risk-high return game
Sakshi Batra is in conversation with Moneycontrol's Vandana Ramnani to discuss all you need to know about REITs and how it will attract investment from local as well as global investors.
Properties listed through a REIT are typically commercial assets -- primarily office spaces that can generate steady and lucrative rental income
In November, the company had announced signing of a non-binding term sheet to divest 50 percent stake in these two assets having nearly 8 lakh sq ft leasable area.
The company, in a joint venture with Blackstone, has developed business parks covering about 34 million sq ft of office space.
The sale could happen through a combination of primary capital infusion or a secondary stake sale or a combination of both
As per the report, before the deal, Shriram Capital, the group holding company, would have to finalise plans for a three-way merger with its publicly traded arms: Shriram Transport Finance and Shriram City Union Finance
Suitors may be expected to put together a single resolution plan for all 15 entities subject to relevant approvals from the courts
The REIT listing is unlikely to spark a rush for more listings, according to experts.
Its retail unit Nexus Malls has retail presence of 6 million square feet spread across nine malls
Etihad Airways owns 50.1 percent of Jet Privilege, while Jet Airways holds the remaining stake.
Adverse market circumstances mean that further equity infusion will be important for Jet to secure funding in the short-term, and also bolster its balance sheet to placate shareholders.
The revised REIT will include assets operated by partner Blackstone in the National Capital Region (NCR) and Mumbai
The deal may exclude a large 1 million sq ft office complex in Gurugram that the Singh brothers are developing.
The company's board is set to "unanimously recommend" the proposal, saying it presented shareholders "with an opportunity to realise their investment... for significant value and certainty".
As per the bulk deal data available with BSE, Blackstone Capital Partners (Singapore) VI FDI Two Pte offloaded 1.09 crore shares amounting to 7.55 per cent stake of S H Kelkar and Company.
The Competition Commission has given its nod to global investment firm Blackstone's proposed acquisition of stakes in K Raheja Corp Group entities that are into real estate activities.
The proposal to buy back 1,73,70,078 equity shares at a price not exceeding Rs 635 per share has been approved by shareholders, the company stated in the voting results on the proposal, in a BSE filing.
Earlier, the lenders, together holding 51 percent in Monnet Ispat, had converted Rs 350 crore of debt in the company to equity. Monnet has a total debt of over Rs 9,000 crore.
Realty major DLF's promoters are in the final stage of discussion with potential investors to sell their 40 per cent stake in the company's rental arm DCCDL Ltd for an estimated Rs 12,000-14,000 crore.
Lenders of Monnet Ispat are again in the process of selling majority stake and this time Sajjan Jindal's JSW Steel, Sudhir Maheshwari-led Synergy Capital and global private equity fund Blackstone are in the race for equity in the company, reports Business Standard. The lenders currently hold 53 percent stake in Monnet Ispat.
Bharti Infratel shares rallied more than 5 percent intraday Thursday. Canada-based asset management company Brookfield is in exclusive talks to buy majority stake in the company, reports CNBC-TV18 quoting agencies.
In an interview to CNBC-TV18, SP Tulsian of sptulsian.com shared his reading and outlook on the market.
According to sources, three global institutional investors -- Blackstone, GIC and Abu Dhabi Investment Authority -- have been shortlisted as buyers in DLF Cyber City Developers Ltd (DCCDL). Due diligence process is on and the agreement is likely to be signed by September.
In 2007, DLF had diluted 49 percent stake in seven residential projects located in Chennai, Bengaluru, Kochi and Indore to a Merrill Lynch & Co entity Ridgewood Holdings, now managed by Blackstone.