Rahejas to raise Rs.530 Cr. from PE funds

New Delhi based Rahejas plan to raise Rs.530 Cr. from PE funds against 26% equity in their upcoming Gurgaon based engineering SEZ.

MD Navin Raheja said the group was talking to Royal Group of Abu Dhabi, Ford Capital, Ascendas, Blackstone & Carlyle with E&Y as consultant. He said " Though the deal is not finalised we prefer Royal group because of their bigger projects, construction techniques, equipment & manpower"

The JV will be as an SPV to be listed later. The company plans to invest Rs 4,535 crore in the SEZ to be funded with a mix of equity, debt and internal accruals. It has plans to build country's tallest building here. Since haryana faces power shortage, the company is planning a 200MW captive powerplant and is in talks with Adani & Lanco.

Ascendas launches S$500m development fund for India

Business space provider Ascendas has launched its first ever development fund for India - to tap into the country's booming real estate sector. Totalling S$500 million, the private fund will invest in the development of integrated property projects like business and IT parks.

The new Ascendas India Development Trust will start by developing two IT business parks, in the Indian cities of Pune and Nagpur. Ascendas had announced in April that it was developing the two projects through joint ventures with Indian government agencies.

It plans to raise the total asset size of the fund to S$1 billion - and is in the process of securing new investment projects. Current investors in the fund include Bahrain-based asset manager Arcapita, and Holland's ING Private Banking

Source: Channel NewsAsia
Related Article: Singapore-based real estate firm Ascendas to raise $1 bn fund for India & China

Singapore-based real estate firm Ascendas to raise $1 bn fund for India & China

Singapore office and industrial parks landlord Ascendas is in talks with potential private equity investors to raise a combined $1 bn for two private-equity funds it is setting up for its expansion in India and China. The initial size of the India investment fund, which will focus on developing land into industrial parks, will be $500 mn. Ascendas has assets valued at $640 mn in its India properties representing about 3.6 mn square feet. Ascendas already manages an office real estate investment fund in India fund that invests in information technology (IT) parks. General Electric (GE) Commercial Finance Real Estate, a unit of conglomerate GE, is one of the investors in the India fund. Ascendas is in talks with banks for a Singapore listing of the first India fund.

Article in The Business Times, Singapore.