Firm sells holdings in Gurugram, Mumbai to Blackstone, looks to offload rest soon.Balckstone’s property investments in India are set to cross the $6-bn mark this year.
The total debt of Coffee Day Enterprise stands at Rs 6,547 crore, comprising loans from banks and securities sold to mutual funds.
With around $10.4 billion investments in the country since 2005, Blackstone is the largest global investor in the domestic realty market with an exposure of over $5.4 billion and the One BKC deal is the largest in the office space segment to date.
The buyout firms are looking to invest between $500 million and $750 million in Yes Bank, depending on the final valuation, sources said
The stake sale was undertaken by Indiabulls to focus fully on its financial services as it seeks to merge with Lakshmi Vilas Bank.
According to reports, the US-based investment firm may purchase promoters' total 39 percent stake in Indiabulls Real Estate through a joint venture with Bengaluru-based realty firm Embassy Group.
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.