Morgan Stanley, Puravankara setting up warehousing platform; Quikr looks to buy GoZefo
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Bengaluru developer Puravankara Ltd has entered into an agreement with Morgan Stanley to set up a warehousing platform, a media report said.

The platform will focus on building new projects in south India, Mint reported, citing two people it didn't identify.

The platform is also in talks for two land parcels on the outskirts of Mumbai, said one of the persons. The first project would be launched in the financial year which starts from 1 April 2019.

The development comes after news in February that Morgan Stanley had acquired a majority stake in Pune-based warehouse and logistics park developer KSH Infra Ltd for around Rs 350 crore.

Separately, four people in the know told The Economic Times that online classifieds platform Quikr India Pvt. Ltd has entered into a definitive agreement to acquire refurbished goods marketplace GoZefo for Rs 200 crore ($28.5 million), which will continue to operate independently after the all-stock deal.

Sequoia Capital and Helion Venture Partners-backed Zefo, owned by Bengaluru-based Zero Effort Technologies Pvt. Ltd, was founded in 2015 by Arjit Gupta, Himesh Joshi, Karan Gupta and Rohit Ramasubramanian. It has raised close to $20 million from investors so far.

In another development, three people in the know told The Economic Times that digital payments major PayU is in the final stages of talks to acquire Bengaluru-based and Cupertino-based online payment processing firm Wibmo for up to $60 million (Rs 418 crore at current exchange rate).

PayU India, a subsidiary of Netherlands-headquartered PayU, has already set aside more than $1 billion for investment in the country.

Separately, two people in the know told The Economic Times that Brookfield-led India infrastructure investment trust (InvIT) is raising debt worth about Rs 6,400 crore ($919 million at current exchange rate). Bonds, of five-year maturity, will have a coupon rate of 9.25-9.6%.

“Brookfield-led India Infrastructure Investment Trust will issue these bonds domestically. In turn, it will deploy the proceeds across different assets,” said one of the persons cited above.

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