Why settle for $400-500 million when you can make a billion or even more? That, in a nutshell, is why Krishna Kumar, 43, and Kashyap Dalal, 40, co-founders of Bengaluru-based edtech firm Simplilearn, one of the big players in the segment, sold a 51 per cent stake to Blackstone instead of selling 100 per cent as close competitor and rival Great Learning chose to do.
The Indian lenders are worried over the fast depleting asset base of the Future group companies which would make their recovery of dues difficult. The asset base of Future group has eroded in the last two years due to lockdown and takeover of 947 stores by rival Reliance Retail after Future group's lease on the properties expired. Bankers said they have approached bankruptcy court so as to avoid any duplication of legal action and reduce time at the legal forums.
Future group promoter Kishore Biyani's stake fell consistently across group companies since December 2019 after American retail major Amazon infused funds in a Future group promoter entity and the group companies started showing signs of financial distress due to closure of stores due to Covid-19 pandemic. As lenders take Future group companies to the bankruptcy courts to recover their dues under the Insolvency and Bankruptcy Code, the shareholders of Future group companies are staring at complete wipeout of their investments as secured lenders get top priority in any potential recovery, say lawyers. "The fate of all Future group shareholders is now sealed with them looking at a complete loss.
US-based Blackstone has bought malls such as AlphaOne Mall in Ahmedabad, Elante Mall in Chandigarh and Treasure Island Mall in Indore.
Three marquee exits accounted for nearly 60 per cent of the total exit value -- BillDesk's acquisition by PayU for $4.7 billion, Paytm's $2.5 billion initial public offering (IPO), and Zomato's public market debut of $1.3 billion.
Warehousing and logistics segment has been among the most resilient asset classes in the pandemic.
.jpg)
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.
Welcome to the era of too many investors chasing a limited number of commercial real estate deals.
IT and ITeS companies accounted for $28.1 billion of the total investment pie during the first nine months of 2021.
Approaches Morgan Stanley, GIC and Blackstone
Among other things, the company is considering monetising the Global Village tech park located off Mysore Road in Bengaluru, for which private equity major Blackstone was said to have shown interest.
Almost all the big mall developers/investors - such as Raheja-owned Inorbit Malls, Xander-APG joint venture Virtuous Retail South Asia (VRSA), property developer Prestige Estates Projects, and Blackstone-owned Nexus Malls - are looking to double their space in a year or two.
Prime Minister Narendra Modi on Thursday is scheduled to have as many as eight meetings, including with Vice President Kamala Harris, on the first working day of his current US trip.
The only thing that may salvage Narendra Modi's trip to the US is his meetings with CEOs, such as those of Blackstone, First Solar, Qualcomm, Adobe, and General Atomics, asserts Rajeev Srinivasan.
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.
Both partners would inject $200 million each in the form of equity and hold 50 per cent stake each. They plan to raise another $600 million in the form of debt to create a corpus of $1 billion to develop malls across tier-I, II and III cities.
RInfra's plan to lease out headquarters property may face legal hurdle. Moreover, PE players with balance sheets that can take on Reliance Centre Office in Santacruz would be limited and include a handful of players such as Blackstone group, GIC, Brookfield Asset Management and Maplewood Investments.
Private equity majors interested in buyouts have started initial discussions with promoter Vijay Mallya.
Attributing the delay in debt servicing to a liquidity crisis, the company said its total indebtedness was Rs 518 crore.
More and more PE players are willing to test the waters now, just in case they become early entrants in a future booming business.
In a chat with Business Standard, Blackstone India chairman and managing director Akhil Gupta says the PE player is eyeing investment opportunities in infrastructure and personal consumption-driven sectors and may raise an India-focused fund.
Brookfield Asset Management will pay around Rs 29,000 per square foot for the 170,000 square feet of space in Jet Airways' two-floor office in Bandra Kurla Complex.
Big conglomerates of Japan, including Mitsubishi Corporation, Sumitomo Corporation, and Mitsui Group, are looking to both build and buy commercial properties in key Indian cities.
Given the inflation across most economies, especially India, I believe inflation beneficiaries should do well and sectors that are interest rate-sensitive should not do so well, says Punita Kumar Sinha, Senior MD, Blackstone Asia Advisors.
Given the inflation across most economies, especially India, I believe inflation beneficiaries should do well and sectors that are interest rate-sensitive should not do so well, says Punita Kumar Sinha, Senior MD, Blackstone Asia Advisors.
Debt-ridden Reliance Capital ready to cede control in home finance - Blackstone, Carlyle, Brookfield, and Piramal group are in talks to buy a large stake in Reliance Home Finance.
Tata Motors recently announced the launch of 'Dark' edition models of the Harrier, the Nexon, the Nexon EV and its premium hatchback, the Altroz. The 'Dark' editions add a premium touch to its existing models. In 2019, Tata Motors launched the Harrier in its 'Dark' avatar to customers looking for a bold, sophisticated and stylish SUV.
Prime Minister Narendra Modi arrived in Washington, DC, on Wednesday on an official visit to the United States during which he will hold the first face-to-face meeting with President Joe Biden and his deputy Kamala Harris, attend the maiden in-person Quad summit and address the 76th session of the United Nations General Assembly in New York.
India's real estate industry staged a rebound from 2020's downturn, with housing sales seen rising by over 50 per cent. The performance, though short of pre-COVID levels, has property developers hoping for stronger gains in the New Year and the beginning of a long upcycle. A strong foundation has been laid this year for revival in the Indian real estate sector, which is projected to reach $1 trillion mark by 2030 from $200 billion in the pre-pandemic year.
US-based buyout fund Carlyle, Providence Equity Partners, Warburg Pincus and Blackstone are understood to be exploring a buyout of Temasek's holding in Mumbai-based pure-play business process outsourcing firm Firstsource. The news triggered the company's share price to rise 6.76 per cent on the Bombay Stock Exchange (BSE) to close at Rs 43.45 on Tuesday. Warburg Pincus has a stake in WNS, a BPO company, while Blackstone has a majority stake in Intelenet.
The Quorum in Mumbai aims to introduce and extend its blend of hospitality and philosophy of being community-led, content-driven, design-focused and experiential.
Morgan Stanley has big plans to invest in India's real estate.
The country's largest apparel exporter, Bangalore-based Gokaldas Exports (2006-7 turnover Rs 1,045 crore or Rs 10.45 billion), sprang a surprise last year when leading global private equity firm Blackstone acquired a 50.1 per cent stake in it.
Buoyant stock markets and booming telecom sector appear to have generated some interest among global equity players with Blackstone and Texas Pacific approaching Hutchison to buy stake in its India venture but the move could face hurdles.
The rise of the mall in India, at a time when many in the United States are becoming debt-ridden white elephants.
In the last couple of months, the IT and BPO space has seen a big uptick in M&A activities, with companies merging with other entities to become bigger players.
V G Siddhartha's wife has the support of the employees. But the challenges ahead of her are tough.
57-year-old Kotak is ranked 33rd in the Forbes list of 'Money Masters: The Most Powerful People In The Financial World'
Adani, which had earlier bid only for the wholesale book, now want all of DHFL's assets and has pipped both Oaktree and Piramal by bidding higher than each of them.
The analyst said since servicing of principal and interest on loans will beome challenging for mall operatos in the next couple of months.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances