Tag: jm financial

CommercialLatest Stories

Brookfield India REIT Raises ₹2,600 Crore for Growth

MUMBAI: The International Finance Corporation (IFC), a member of the World Bank Group, in collaboration with Whiteoak Capital, HDFC Life Insurance, Axis Max Life Insurance, and PPFAS Mutual Fund, is participating in Brookfield India Real Estate Trust’s Qualified Institutional Placement (QIP) aimed at raising ₹2,600 crore, according to sources familiar with the matter. The initial issue, set at ₹2,000 crore, was increased with a 30% greenshoe option due to strong investor interest, and is expected to close this week. “The issue size was raised on Friday following enthusiastic responses from investors. Approximately 90% of the allocation went to long-only investors,…

IndustryLatest Stories

Bagmane REIT Aims for $3.9B Valuation in India IPO

Blackstone-backed Bagmane Prime Office REIT is gearing up for an initial public offering (IPO) as early as next month, aiming for a valuation of approximately $3.9 billion, sources indicate. The Bengaluru-based real estate firm has received regulatory approval and commenced investor roadshows. Sources requested anonymity due to the confidential nature of the information. The proposed IPO seeks to raise 40 billion rupees ($440 million), which includes up to 30 billion rupees in new units and a secondary sale of 10 billion rupees by Blackstone, as detailed in the IPO prospectus that was filed in December. Discussions are ongoing, and details…

Latest StoriesRegulatory

NCLT Approves Hotel Horizon Resolution, NCLAT Halts Equity Creation

Here’s a rewritten version of the provided content: The National Company Law Tribunal has sanctioned Hotel Horizon’s acquisition by a consortium consisting of Oberoi Realty, Shree Naman Developers, and JM Financial Properties and Holdings. The company has acknowledged liabilities amounting to ₹1,293 crore, while the successful bidder’s proposal entails a payment of ₹919 crore, leading to approximately 74% recovery for creditors of the financially strained firm. Prior to the tribunal’s sanction, the resolution plan had received unanimous approval from the company’s secured creditors. Hotel Horizon’s main asset is a coveted 1.85-acre land parcel located in Mumbai’s upscale Juhu area, with…

IndustryLatest Stories

Land Shortages Fuel Strategic Acquisitions through Bankruptcy

As land availability tightens and competition grows in India’s major cities, strategic buyers are increasingly using the corporate insolvency resolution process under the Insolvency and Bankruptcy Code to acquire urban real estate. This framework is becoming crucial in facilitating ownership changes and land consolidation in areas with limited supply, a trend reflected in various recent rulings by bankruptcy tribunals nationwide. Data from the Insolvency and Bankruptcy Board of India indicates that by the end of September, 8,659 companies had entered insolvency proceedings, with around 1,905 being real estate companies. Of these, approximately 1,472 have received resolution plans from prospective buyers,…

IndustryLatest Stories

JM AMC Launches ₹1,000-Crore Real Estate Fund in AIFs

NEW DELHI: JM Financial Asset Management Company is enhancing its Alternative Investment Fund (AIF) platform by launching a Rs 1,000 crore early-stage real estate fund to fill the financing gaps in the sector. According to Amitabh Mohanty, MD and CEO of JM Financial Asset Management Ltd, “Our aim is to develop a comprehensive AIF ecosystem that facilitates India’s next wave of enterprise growth. We are formulating thematic strategies that are backed by real assets and focus on non-traditional opportunities,” as reported to PTI. The AIF platform will provide specialized capital pools targeting credit, real estate, and pre-IPO opportunities, he noted.…

IndustryLatest Stories

Eldeco Infrastructure Files DRHP for ₹1,000 Cr IPO

NEW DELHI: Eldeco Infrastructure and Properties has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) as part of its initial public offering (IPO) initiative. The offering includes a combination of fresh share issues totaling ₹800 crore and an offer-for-sale amounting to ₹200 crore from promoter selling shareholders. Each equity share carries a face value of ₹5. The promoters, Pankaj Bajaj and Bandana Kohli, are selling equity shares worth ₹102 crore and ₹98 crore, respectively, each with a face value of ₹5. The company may also consider a pre-IPO placement of up to…

IndustryLatest Stories

Runwal Realty Files DRHP for ₹2,000-Crore IPO

Real estate developer Runwal Realty is aiming to raise up to ₹2,000 crore through an Initial Public Offer (IPO) of its equity shares and has submitted its draft red herring prospectus for this venture. The capital raise will include a fresh issue up to ₹1,700 crore and an offer for sale of up to ₹300 crore. The Mumbai-based company might also pursue a pre-IPO placement totaling up to ₹340 crore, which, if executed, will be capped at 20% of the fresh issue size, as stated in the draft prospectus filed on Wednesday. Runwal Realty plans to use the proceeds from…

CommercialLatest Stories

IndiQube Spaces IPO Oversubscribed 12.33x on Closing Day

NEW DELHI: IndiQube Spaces Ltd’s initial public offering (IPO) was subscribed 12.33 times by the close of bidding on Friday. The IPO received bids for 21,14,96,292 shares, significantly surpassing the 1,71,48,335 shares available, as reported by NSE data. The portion for Qualified Institutional Buyers (QIBs) saw a subscription rate of 14.35 times, while Retail Individual Investors (RIIs) subscribed 12.55 times. The Non-Institutional Investors category saw a subscription rate of 8.24 times. On Tuesday, IndiQube Spaces announced that it raised over ₹314 crores from anchor investors. The Bengaluru-based firm’s ₹700-crore IPO features a price band of ₹225-237 per share, putting its…

CommercialLatest Stories

Indiqube Spaces IPO Sees 87% Subscription on Day 1

NEW DELHI: The workplace solutions provider, IndiQube Spaces Ltd, saw an 87% subscription rate on its initial public offer (IPO) during the first day of bidding on Wednesday. According to NSE data, the IPO attracted bids for 1,50,00,111 shares against the 1,71,48,335 shares available. The portion for Retail Individual Investors (RIIs) was subscribed 3.41 times, while the subscription for non-institutional investors reached 78%. The quota allocated to Qualified Institutional Buyers (QIBs) saw a 6% subscription. On Tuesday, IndiQube announced that it had raised over Rs 314 crore from anchor investors. The Rs 700-crore IPO will conclude on July 25, with…

CommercialLatest Stories

IndiQube Spaces Secures ₹314 Crore from Anchors Before IPO

NEW DELHI: IndiQube Spaces, a managed workspace solutions provider, has secured over ₹314.32 crore from anchor investors ahead of its initial public offering, with shares priced at ₹237 each, as reported in an exchange filing. Key investors include Aditya Birla Sun Life MF, Ashoka WhiteOak ICAV, Invesco India ELSS Tax Saver Fund, Motilal Oswal Large Cap Fund, Bandhan Large & Mid Cap Fund, along with others like Max New York Life Insurance, Edelweiss MF, and Citigroup Global Markets Mauritius. Of the 13.26 million equity shares allocated to anchor investors, 8.93 million shares (67.35%) went to eight domestic mutual funds covering…