Indiabulls signs Rs 175 cr deal with Groww to exit mutual fund business
Groww will acquire Indiabulls Asset Management Company Limited and Indiabulls Trustee Company Limited (ITCL). The Rs 175-crore deal will include cash and cash equivalent of Rs 100 crore
BusinessToday.In | May 11, 2021 | Updated 20:27 IST
Indiabulls Housing Finance announced it will exit the mutual fund business to focus its management bandwidth and consolidate capital towards its core lending business. To this end, the housing finance company said it will sell its entire stake in mutual fund subsidiary to Nextbillion Technology, a part of the Groww Group, for a sum of Rs 175 crore.
Blackstone Real Estate acquires Embassy Industrial Parks in $700-m deal
May 11, 2021
Embassy Industrial Parks’ warehouses are located across major industrial hubs in India
In one of the largest logistics transactions in India, PE fund Blackstone on Monday announced that funds managed by Blackstone Real Estate have bought Embassy Industrial Parks from Warburg Pincus and Embassy Group in a $700-million (₹5,250 crore) deal.
Embassy Industrial Parks comprises 22 million square feet of Grade A logistics and warehousing assets located in urban centres catering to tenants in major sectors. Blackstone, in the first tranche, is to pick up 10.6 million square feet and the balance would be acquired in two weeks.
In one of the largest logistics deals in the country in recent years, US-based private equity fund manager Blackstone Group has bought Embassy Industrial Parks from Warburg Pincus and Embassy Group. Though Blackstone did not disclose the deal value, sources in the industry pegged the transaction at an enterprise value of Rs 5,250 crore.
Embassy Industrial Parks comprises 22 million square feet of modern logistics and warehousing facilities, as well as yet-to-be-built assets, located across Bengaluru, Delhi-NCR, Hyderabad, and Pune. These are leased to leading e-commerce and retail players. Warburg Pincus had a 70 per cent stake in the $250-million joint venture (JV) set up in 2015, while Embassy had 30 per cent.
Blackstone acquires Embassy Industrial Parks from Warbug Pincus, Embassy Group
Embassy Industrial Parks comprises 10.6 million square feet of modern Grade A logistics and warehousing assets near urban centres, tailored for tenants in rapidly developing sectors.
BusinessToday.In | May 10, 2021 | Updated 20:18 IST
Blackstone is among the top 10 business groups in India by the total value of assets.
Global investment firm Blackstone on Monday said funds managed by Blackstone Real Estate have acquired Embassy Industrial Parks from Warburg Pincus and Embassy Group. Blackstone called it one of India s largest logistics transactions, but didn t disclose the deal value. Embassy Industrial Parks comprises 10.6 million square feet of modern Grade A logistics and warehousing assets near urban centres, tailored for tenants in rapidly developing sectors, the investment firm said in a statement. The warehouses are located across major industrial hubs in India including Bangalore, Delhi NC
COVID-19 second wave: India s GDP growth can slip to 8.2% in FY22, says CRISIL
While the restrictions on movement and commerce are less stringent that during the first wave, they are increasing across the country as caseload is spreading in rural areas.
BusinessToday.In | May 11, 2021 | Updated 12:40 IST
CRISIL said its 11 per cent growth estimate will still hold if the surge in COVID-19 cases and lockdowns peak by mid-May.
India s gross domestic product (GDP) growth may slip to 8.2 per cent in financial year 2021-22 if the second wave of coronavirus pandemic in the country peaks by June-end, rating agency CRISIL said on Monday while maintaining its baseline estimate of 11 per cent growth.