Shriram Properties, which wants to refinance projects under development and acquire distressed real estate assets may get $125 million PE fund by private equity arms of JP Morgan, IL&FS and Morgan Stanley.
Private equity firm India Property Fund has picked up a 49% stake in Ramprastha Group’s housing project Skyz in Gurgaon for Rs.120 crore.
Private equity giant Blackstone will finance south-based Embassy Property Development’s purchase of 22% stake in Manyata Tech Park, the country’s largest operational tech SEZ.
DB Realty is looking to raise funds via private equity for a couple of its projects.
Private equity investors are poised to exit roughly $5 billion worth of Indian real estate investments in the next two or three years, a Nomura report said.
Shapoorji Pallonji Group has floated a $500 million private equity fund, mainly focused on real estate, marking its return to the financial services industry.
Parsvnath Developers is looking to raise up to Rs.200 crore by selling stakes in two group housing projects to private equity firms.
Realty firms are making a beeline to private equity investors for money to repay mounting debt portfolios. With commercial banks turning cautious about lending to the real estate sector, industry players strapped for cash are seeking equity capital to ease the liquidity crunch.
Century Real Estate Holdings, the realty development arm of three-decade old Bangalore-based Century Group, is looking to raise Rs 700 crore through private equity players in three tranches. The company during the past four years have been focusing on development of projects, is understood to be effecting this deal at the holding company level.
Baring Private Equity Partners India (BPEP), along with some of its international investors, is likely to invest about $75 million, or approximately Rs 350 crore, in the Bangalore-based Century Real Estate. Baring’s individual commitment to the deal is around $53 million, while overseas investors who are backing the fund may bring in a little over $20 million in additional investment.