Tag: Blackstone

IndustryLatest Stories

Blackstone to Acquire Majority Stake in Ritz-Carlton Bengaluru

BENGALURU | MUMBAI: US investment firm Blackstone is set to acquire up to a 55% stake in the Ritz-Carlton Bengaluru from Nitesh Land. Sources indicate that Blackstone’s stake acquisition of 51-55% could cost approximately ₹600-700 crore, valuing the 277-room luxury hotel between ₹1,200 and ₹1,400 crore. The hotel, managed under the Ritz-Carlton brand by Marriott International, generated earnings before interest, taxes, depreciation, and amortisation of ₹105 crore for FY25. “Blackstone will purchase the stake in Nitesh Residency Hotel, the owning entity. The agreement is signed and expected to finalize within this quarter,” shared an anonymous source. Post-transaction, Nitesh Shetty, founder…

Housing FinanceLatest Stories

Blackstone Secures CCI Nod for 80% Stake in Aadhar Housing

NEW DELHI: The Competition Commission of India (CCI) has approved the proposal from Blackstone’s subsidiary to acquire up to 80.15% stake in Aadhar Housing Finance Ltd. Blackstone, through its arm BCP Asia II Holdco VII Pte Ltd, is set to acquire the 80.15% stake in Aadhar Housing Finance Ltd (AHFL). The CCI’s release stated: “The proposed combination involves the acquisition of up to 80.15% shareholding in Aadhar Housing Finance Ltd (target/AHFL) by BCP Asia II Holdco VII Pte. Ltd (acquirer/BCP Asia) via a secondary acquisition and an open offer to the public shareholders of the target.” Aadhar Housing Finance Ltd…

IndustryLatest Stories

$3.9B Flow into Indian Real Estate from Private Equity (Jan-Sept 2025)

NEW DELHI: According to Savills India, a leading global real estate consulting firm, private equity investments in the Indian real estate sector reached USD 1.5 billion (₹131 billion) in Q3 2025. This marks a 32% decline compared to the previous year, yet the overall activity remains strong, with year-to-date (YTD) inflows totaling USD 3.9 billion (₹334 billion), closely approaching 2024’s figures. During Q3 2025, the office sector dominated investment, attracting USD 0.6 billion (₹52 billion), or 39% of total inflows, followed by data centers at 38%. The residential segment made up 20%, and co-living, though modest at 1%, is emerging…

IndustryLatest Stories

Blackstone’s Lumina CloudInfra Acquires 3.8 Acres in Chandivali for ₹475 Crore

Lumina CloudInfra, a data center developer backed by Blackstone, has acquired two adjacent land parcels totaling 3.8 acres in Chandivali, near Saki Vihar Road in Andheri East, Mumbai, for ₹475 crore. The first plot, measuring 2.04 acres, was acquired for ₹294 crore, while the second plot of 1.75 acres cost ₹181 crore. The company plans to construct a 60 MW data center on these sites, according to sources familiar with the transaction. Both acquisitions were registered on September 19, incurring a combined stamp duty of ₹28.5 crore, as per documents obtained from CRE Matrix. As part of Blackstone’s portfolio, Lumina…

IndustryLatest Stories

Units of Knowledge Realty Trust Close with Over 6% Premium

NEW DELHI: Units of Knowledge Realty Trust, backed by Sattva Group and Blackstone, closed with a premium exceeding 6% on Monday from the issue price of ₹100 per unit. The unit debuted at ₹104, showing a 4% rise from the issue price on the BSE. Throughout the day, it peaked at ₹109.14, realizing a 9.14% increase. Ultimately, the unit finished at ₹106.15, a rise of 6.15%. On the NSE, the listing commenced at ₹103, reflecting a 3% premium. It eventually stabilized at ₹106.24 per unit, marking a 6.24% increase. The company’s total market valuation is approximately ₹47,071.15 crore. The ₹4,800-crore…

IndustryLatest Stories

Knowledge Realty Trust REIT IPO Soars 3.4x by Day 2

NEW DELHI: The initial public offering (IPO) of National Securities Depository Ltd (NSDL) achieved a subscription rate of 3.42 times on the second day of bidding, which occurred on Wednesday. The ₹4,800-crore REIT IPO received bids for 71,19,79,950 units against the 20,84,20,800 units available, reflecting a subscription rate of 3.42 times, based on data from the NSE. The segment allocated for other investor categories, including corporate and individual investors/NRI and HUF, was subscribed 5.88 times, while the institutional investors’ portion saw a subscription rate of 1.36 times. Knowledge Realty Trust announced on Monday that it has secured ₹1,620 crore from…

IndustryLatest Stories

Knowledge Realty Trust secures Sebi approval for ₹4,800-crore REIT

NEW DELHI: Knowledge Realty Trust, backed by the Sattva Group and Blackstone, has received approval from SEBI to initiate a public offering for its REIT, aiming to raise ₹4,800 crore. Last month, Knowledge Realty Trust (KRT) successfully gathered ₹1,400 crore from investors as part of the preparations for its first REIT public offering. In early March, KRT filed a draft red herring prospectus (DRHP) with SEBI to launch an initial public offering (IPO) and list the REIT on stock exchanges. This initiative is designed to monetize its portfolio of 30 premium office assets located in major cities. According to sources,…

Housing FinanceLatest Stories

ADQ’s Sheikh Tahnoon Eyes $200M Stake in Aadhar Housing

MUMBAI: An investment entity supported by Abu Dhabi’s sovereign wealth fund, ADQ, and partly owned by Sheikh Tahnoon bin Zayed al-Nahyan, is reportedly in advanced talks to acquire a minority share in Aadhar Housing Finance, which is backed by Blackstone. Sheikh Tahnoon also serves as the national security adviser of the UAE and chairs ADQ. The proposed investment ranges from $200 million to $225 million (approximately Rs 1,750-2,000 crore) for a 10-12% equity stake in the affordable housing finance firm, which launched an IPO in 2024. A formal announcement is anticipated soon. This follows a larger commitment by Blackstone, amounting…

IndustryLatest Stories

Kolte-Patil Developers Reports ₹616 Crore Q1 FY26 Sales

NEW DELHI: Kolte-Patil Developers (KPDL) announced sales of ₹616 crore for Q1 FY26, driven by consistent performance in major projects and a slight growth in volumes. The company reported sales of 0.84 million sq ft in Q1 FY26, reflecting a 5% increase compared to the previous quarter. Customer collections totaled ₹550 crore this quarter, aligning with the scheduled payments. The average realization remained steady at ₹7,337 per sq ft, similar to last year’s performance. Atul Bohra, the group’s CEO, stated, “With strong launch plans ahead in Pune and Mumbai, we anticipate further growth. Our partnership with Blackstone enhances our strategic…