By : Charmi Gutka
Source : http://www.dealcurry.com
Category : Investment In India
Morgan Stanley may invest R500-600Cr in Sheth Developer's residential project in Andheri, Mumbai.
If the deal goes through, it would be Morgan Stanley's first investment in India in three years. The fund has invested about $750Mn so far in India.
Sheth Developers acquired an 18-acre land parcel in Andheri from Borosil Glass Works in 2010 for about Rs 875 crore and plans to develop a large residential project.
Sheth Group led by Ashwin Sheth, Jitendra Sheth and Vallabh Sheth ventured into real estate development business in the year 1997 with the development of its first project, Vasant Nagri, a township of 1.15 mn Sq. Ft. in Vasai, Mumbai. In the year 2005, the group entered into the Dubai real estate market through its wholly-owned subsidiary, Sheth Estate International Limited and completed its first residential project, Iris Blue, in March 2008.
A number of real estate developers are looking to raise PE funding for completing their ongoing projects. Last month, Omkar Realtors raised R250Cr from Red Fort Capital Advisors for it's slum redevelopment project in Malad Mumbai.
There has been significant rise in real estate investment in South Indian cities in the past few months. Last month, JP Morgan Global Fund invested $40Mn for a 45% stake in a Nitesh Estate SPV, which will be executing three projects totalling 4 mn sqft in Bangalore and Chennai. Mauritius based PE Fund, Pragnya Fund invested $5Mn in a 50 acre integrated township project in Rajahmundry, Andhra Pradesh.
Source: http://www.dealcurry.com/20111220-Morgan-Stanley-May-Invest-R600Cr-In-Sheth-Developer-s-Andheri-Project.htm
Source : http://www.dealcurry.com
Category : Investment In India
 |
| Investment In India |
If the deal goes through, it would be Morgan Stanley's first investment in India in three years. The fund has invested about $750Mn so far in India.
Sheth Developers acquired an 18-acre land parcel in Andheri from Borosil Glass Works in 2010 for about Rs 875 crore and plans to develop a large residential project.
Sheth Group led by Ashwin Sheth, Jitendra Sheth and Vallabh Sheth ventured into real estate development business in the year 1997 with the development of its first project, Vasant Nagri, a township of 1.15 mn Sq. Ft. in Vasai, Mumbai. In the year 2005, the group entered into the Dubai real estate market through its wholly-owned subsidiary, Sheth Estate International Limited and completed its first residential project, Iris Blue, in March 2008.
A number of real estate developers are looking to raise PE funding for completing their ongoing projects. Last month, Omkar Realtors raised R250Cr from Red Fort Capital Advisors for it's slum redevelopment project in Malad Mumbai.
There has been significant rise in real estate investment in South Indian cities in the past few months. Last month, JP Morgan Global Fund invested $40Mn for a 45% stake in a Nitesh Estate SPV, which will be executing three projects totalling 4 mn sqft in Bangalore and Chennai. Mauritius based PE Fund, Pragnya Fund invested $5Mn in a 50 acre integrated township project in Rajahmundry, Andhra Pradesh.
Source: http://www.dealcurry.com/20111220-Morgan-Stanley-May-Invest-R600Cr-In-Sheth-Developer-s-Andheri-Project.htm
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