The US based global private equity giant Blackstone with a corpus fund of $9.5 billion is gearing up to sign its maiden real estate deal in the country. For the past three years Blackstone with its real estate team have been making its presence felt in India and now is in talks with Embassy Property Development, a Bangalore based real estate developer, through which it plans to invest around Rs 200 crore in one of the projects that are being developed by Embassy Property Development.
Meanwhile a private equity is being raised by Embassy Property Development which is also awaiting a clearance from Securities & Exchange Board of India (SEBI) on its planned public offer of Rs 2,400 crore that is coming up this fiscal. Leading investment banks like UBS, Citigroup, Nomura and Edelweiss are expected to manage the issue.
Reporters could not contact Blackstone for comments as the company could not be reached. On the other hand sources from Embassy were non-committal about any plan of raising funds from Blackstone. Interestingly recent reports suggest that Embassy has also been in touch with Temasek and HDFC Property Ventures for a $100 million private equity infusion. However the status of this development is still in the dark.
Meanwhile a private equity is being raised by Embassy Property Development which is also awaiting a clearance from Securities & Exchange Board of India (SEBI) on its planned public offer of Rs 2,400 crore that is coming up this fiscal. Leading investment banks like UBS, Citigroup, Nomura and Edelweiss are expected to manage the issue.
Reporters could not contact Blackstone for comments as the company could not be reached. On the other hand sources from Embassy were non-committal about any plan of raising funds from Blackstone. Interestingly recent reports suggest that Embassy has also been in touch with Temasek and HDFC Property Ventures for a $100 million private equity infusion. However the status of this development is still in the dark.
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