Global private equity major Blackstone Group-sponsored Nexus Select Trust REIT, India’s maiden real estate investment trust (REIT) with retail properties, is set to launch its initial public offering, a media report said.
The REIT plans to raise more than Rs 4,000 crore via the IPO in the first week of May, The Economic Times reported, citing people with direct knowledge of the development.
This will be Blackstone’s third REIT in the country. Both of the earlier REITs that it backed housed office properties. Embassy REIT made its public market debut in 2019 while Mindspace REIT listed in 2021.
Indiabulls Housing Finance is in talks with global investor Oaktree Capital to sign a deal to invest Rs 5,000 crore in debt capital, The Economic Times reported, citing persons aware of the plan.
Oaktree will infuse Rs 3,000 crore into a special purpose vehicle while Indiabulls Housing will invest Rs 2,000 crore, the report said.
The SPV will use the debt capital to acquire loans given by Indiabulls Housing to developers, the report said.
Next Orbit Ventures, the lead partner in ISMC, a consortium which applied to the government to set up a semiconductor fab plant, has decided to close an agreement to sell its entire stake in the company to the Delhi-based BC Jindal group, Business Standard reported.
Next Orbit, an investment company based in Mumbai, says it made the move after the Indian Semiconductor Mission — the body which scrutinises the fab proposals — suggested that it should rope in a strategic investor for the project to be considered.
Confirming the development, Ajay Jalan, founder and managing partner of Next Orbit, said the company is going to sell its entire stake in ISMC to the BC Jindal group.