Goldman Sachs to invest $150 mn in Piramal Realty

Piramal to use funds to expand portfolio in and around Mumbai

Investment bank Goldman Sachs will invest $150 million for a minority stake in Piramal Realty, the Mumbai-based real-estate developer said on Monday.

It did not disclose the size of the deal.

Piramal Realty will use the money to expand its real-estate portfolio and buy prime properties in and around Mumbai, it said in a statement.

In July, a unit of private-equity firm Warburg Pincus LLC invested $284 million for a minority stake in Piramal Realty.