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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.
India's first escalator, its shortest elevator, a terror attack, a rescue operation -- the building's seen a lot.
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.
Shekhar Gupta's anthology is a valuable addition to our understanding of the seeming muddle that is India... The experience of reading his columns is more like a chat with a friend in the afterglow of an enjoyable drink, but never frivolous, says Shreekant Sambrani.
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