Page 3 - Blackstone

Knowledge Realty posts Rs 1,632 cr NOI in H1 FY25, set to be largest REIT

Sattva Group and Blackstone sponsored Knowledge Realty Trust has posted a net operating income of Rs 1,632.38 crore in the first half of this fiscal while its asset value stood at nearly Rs 60,000 crore at September-end 2024. On Thursday, Knowledge Realty Trust (KRT) filed the Draft Red Herring Prospectus (DRHP) with SEBI to launch its REIT public issue for raising up to Rs 6,200 crore. The company will issue units through Initial Public Offer (IPO) and list the REIT on stock exchanges as part of its strategy to monetise prime office assets across six major cities. "We own and manage a high-quality office portfolio in India, and upon listing, we will be the largest office REIT in India based on Gross Asset Value of Rs 594,450 million as of September 30, 2024 as well as by Net Operating Income (NOI) for H1, FY25 of Rs 16,323.82 million, and the second largest by NOI for 2023-24 of Rs 28,820.83 million," KRT said in theHP. The Trust said it will also be the second largest office REIT

India's largest REIT IPO: Blackstone, Sattva Developers file DRHP with Sebi

The Trust, which is a joint venture between the Sattva Group and Blackstone, in its draft red herring prospectus (DRHP) said that it aims to raise up to Rs 6,200 crore from the public offering

Blackstone-Sattva JV file draft Papers for Rs 6,200 crore Reit IPO

This will be India's biggest and Asia's second-largest Reit IPO

Sattva Group, Blackstone-backed trust files for ₹6,200 cr REIT public issue

Knowledge Realty Trust, sponsored by real estate company Sattva Group and Blackstone, on Thursday filed initial documents with market regulator SEBI to launch its maiden REIT public issue to raise more than Rs 6,200 crore. Knowledge Realty Trust (KRT) has filed the Draft Red Herring Prospectus (DRHP) with SEBI to launch Initial Public Offering (IPO) and list the REIT on stock exchanges, as part of its strategy to monetise its 30 prime office assets across major cities. KRT will be the largest REIT in India in terms of Net Operating Income (NOI) and Gross Asset Value which is estimated at around Rs 60,000 crore. KRT plans to raise around Rs 6,200 crore through REIT-IPO, according to its DRHP. At present, there are four listed REITs in India -- Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust. Apart from Nexus Select Trust, the other three REITs are backed by rent-yielding office assets. Nexus owns a large portfolio

High valuation amid mkt fall delays Haldiram deal; Blackstone exits race

Blackstone, an American private-equity firm, has backed off, citing a high valuation, according to bankers

Equity firm PAG considering sale of $1.2 billion stake in India's Nuvama

Blackstone Inc.-backed PAG is working with financial advisers on a strategic review of its more than 54 per cent stake in the Indian wealth manager

Indorama Ventures to buy minority stake of 25% in EPL from Blackstone

The deal, priced at Rs 240 per share, is expected to close in the coming months

EPL shares decline 8% after Blackstone to sell 24.9% stake to Indorama

"Pursuant to the definitive agreements, INBV will acquire a minority stake of 24.9 per cent of EPL from Blackstone at a purchase price of Rs 240 per share," the filing read

PE giant Blackstone joins race to acquire Akzo Nobel paints business

While JSW Group is not expected to make an aggressive offer, Kolkata-based Berger Paints has already dropped out of the race citing high valuation

NaBFID extends Rs 2,000 crore loan to Blackstone-backed data centre

A senior executive with a public sector lender said NaBFID, a government-owned infrastructure financier, has extended a loan (construction finance)

Blackstone Q4 profit surges as dealmaking gathers momentum, shares up 2.5%

Blackstone's fee-related earnings jumped 76 per cent to a quarterly record of $1.84 billion

Blackstone to invest $11 bn in Maharashtra to develop infra, data centers

Blackstone signed three agreements with the Maharashtra govt at the World Economic Forum in Davos. It plans to develop office complexes, hotels, malls, and warehouses in the Mumbai 3.0 region

Blackstone expects $3 billion in sale of Bob Dylan, Adele song rights

A handful of financial firms, including Apollo Global Management Inc., Warburg Pincus LLC and Temasek Holdings Pte, Singapore's state-owned investment firm, have expressed interest in the assets

Blackstone gets CCI nod to acquire stakes in two Bagmane Group entities

The Competition Commission of India (CCI) on Tuesday said it has cleared Blackstone's arm BREP Asia III India Holding Co VIII's proposed acquisition of stakes in Bagmane Developers and Bagmane Rio. US-based Blackstone is the world's largest alternative asset manager, with more than USD 1 trillion in assets under management (AUM). "The proposed combination involves the acquisition of certain stake in the Bagmane Developers and Bagmane Rio (Target entities) by BREP Asia III India Holding Co VIII (Acquirer)," CCI said in a release. Bagmane Developers and Bagmane Rio are engaged in the business of development, leasing and operation of commercial real estate, hospitality business as well as allied services such as generation of renewable power. "Commission approves the acquisition of certain stake in Bagmane Developers Pvt Ltd and Bagmane Rio Pvt Limited by BREP Asia III India Holding Co VIII Pte Ltd," the regulator said. In a separate release on Tuesday, CCI said it approved the propo

Alpha Wave, two others eye 15% stake in Haldiram's at $9 bn valuation

Haldiram's founding promoters, the Agarwal family considering an IPO post-sale, aiming for a Rs 93,500 crore valuation

Aster, Blackstone eye inorganic growth in North India: Alisha Moopen

Aster coming together with Blackstone-backed Quality CARE will become one of the top three platforms in India, said Alisha Moopen, Deputy Managing Director of Aster DM Healthcare

Aster DM adds Quality to ranks in India's biggest health care deal

At enterprise value of Rs 43,000 cr, merged entity set to be among top three players in India

Aster DM Healthcare, Quality Care partner to create hospital chain

This is Aster's first major deal since selling its Gulf business. The company will get access to Quality's 5,500 beds, taking the merged entity's total bed count to more than 10,000

Blackstone to buy stakes in natgas producer EQT's pipelines for $3.5 bn

The Pittsburgh-based company had a net debt $13.6 billion as of Sept. 30. EQT said in July it planned to cut its debt load by $5 billion through cash it generated from operations and asset sales

Blackstone strikes $8 bn deal for sandwich chain Jersey Mike's Subs

Jersey Mike's Sub, a fast casual sub sandwich franchise, operates over 2,800 locations