After months of negotiations, an entity owned by Pune-based property developer Panchshil Realty and US-based private equity (PE) company Blackstone has bought a majority stake in Express Towers.
The company plans to raise Rs 750 crore; other realtors may follow.
After a long time, real estate companies could hit the fund-raising trail. The reason is improvement in investor sentiment.
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Chairman Anand Mahindra spoke to Business Standard on affordable housing.
The company is not holding plans for clarity on policy.
Real estate firms like DLF, Prestige, Phoenix Mills to benefit.
Jaipuria has not specified the amount he is looking to raise, but says this is the right time to tap the capital markets.
Early last year, the company had said it aimed to reduce its debt, which stood over Rs 21,000 crore then, to Rs 10,000-11,000 crore (Rs 100-110 billion) through the sale of non-core assets and improved cash flows.
This comes in the wake of allegations of financial irregularities by the erstwhile management led by Harish Moolchandani.
Oberoi Relaty expect 20-25 per cent premium for tis residential project.
While the two high-profile exits in pharmaceutical and telecom have raised concerns over regulatory hassles in the country, Japanese investors are still keen to tap into India's consumer growth story and many more merger and acquisition deals are in the offing in this space.
In October 2012, Flipkart entered the menswear segment; later it launched a womenswear range
Move to improve transparency but make liquidity more difficult to come by
Sun Pharmaceutical Industries will take a call on whether to shut Ranbaxy's troubled factories or make changes in the top management of the latter only after its $4-billion acquisition deal is complete.
Local traders are evaluating other options rather in FDI.
Private equity players believe it to be lucrative to invest in designer labels.
The store launches same-day delivery for its site, though analysts say others have eroded its headstart in the brick and mortar format.
At present,Satish Khanna he is associated with companies such as Fullife Healthcare, Kagashin, Hi Tech, Provivi, Status Quo and Concord.
Consultants said the fact that Oberoi had no debt on its books and Kalpataru had low debt helped the two in the slow realty market.
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The land parcel is located in South Mumbai's Tardeo neighbourhood and has a total area of 4,300 square metres (46,268 sq ft).
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