Many investors including a fund by Morgan Stanley and the Government of Singapore Investment Corp are in the race for buying a Mumbai property from textile firm Alok Industries. The deal is expected to be clinched for about $200 million.
The company is looking for selling a portion of its properties in central Mumbai.
The chief financial officer of Alok Industries said that the company is holding discussions with a number of companies for the assets with several funds. The official, however, said that no decision has been taken so far.
However, there was no comment made either by Morgan Stanley or GIC.
Some other Mumbai textile firms that are trying to sell or develop real asset estates in Mumbai include Century Textiles, Bombay Dyeing, Arvind Ltd and Provogue India.
Reports say that private equity investment in Indian property has somewhat come down this year to $784 million compared to $817 million during the same period last year.
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