The chain readies to expand its footprint as Bharti focuses on its retail venture.
The fund is to invest in income generating assets such as malls, office complexes among others.
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While private equity giant Blackstone and Pune-based realtor Panchshil Realty had offered Rs 800 crore for the building at Nariman Point, the building's owners -- Viveck Goenka, chairman and managing director of the Indian Express Group, and private equity firm ICICI Venture (which has 49 per cent stake in the property) -- expected the sale to fetch Rs 900 crore, said the executive.
The two former partners own about 100 such properties; expansion of Best Price, EasyDay stores only after transactions linked to the split are over.
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He started a fund with Rs 800 crore and made several investments.
US retail chain Walmart is awaiting a decision by its board decision on its India strategy, including its partnership with the Bharti group.
The one-year extension would give Walmart and its Indian joint venture partner in the cash and carry business, Bharti Group, more time to sort things out and decide on a retail foray together, people in the know said.
In the last few years, zero per cent financing has become quite attractive as consumers aspire to buy the latest products, especially in categories such as mobile phones and television sets.
While one of them is on the verge of opening, three others are expected to come up in the next three years.
Earlier, its attempts to monetise properties, including the 22-storeyed Air India building in Nariman Point, saw lukewarm response.
DLF says it has started the process of giving possession of housing units at New Town Heights project according to its commitment
With Big Bazaar Direct, the company franchisees will visit customers to take orders and the products would be delivered in three to seven days.
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Consultants say those selling imported consumer durables, apparel, food products, furniture, etc, are the ones hit the hardest.
This could mean an end to the talks for a possible partnership between the two firms in the multi-brand retail space -- less than a year after 51 per cent foreign investment was allowed in the sector.
Recovery in US gives extra boost to IT/ITeS office deals in Bangalore and the National Capital Region.
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As home deals are down to a trickle, most are looking at life beyond broking.
120 new malls came up in last two years, but 30-40 of their older peers downed shutters
Walmart's US Senate filings on Indian market missing
Real estate loans could become NPAs for banks.
Mumbai-based LocalBanya is looking to expand to Pune and Delhi as part of its growth strategy.
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