Shapoorjis IT park put on block
Xander,Temaseks Realty Arm Eye 450Cr Chennai Property
Anshul Dhamija & Reeba Zachariah TNN
Bangalore/Mumbai: Global investment house Xander Group and Mapletree,the real estate unit of Temasek Holdings,are in the fray to acquire Indian construction major Shapoorji Pallonjis business park SP Infocity,in Chennai,valued at Rs 450 crore.The Information Technology (IT) park is 27-lakh-sq-ft development,and the deal on the table comprises of 8-lakh sq ft of tenanted office space leased to clients like HSBC,Amazon,Saksoft,Hapag Lloyd,Lister Technologies,and Neeyamo.
It may include right of first refusal to buy rest of the development,possibly at a pre-determined price.Global real estate consultant CBRE is said to be the advisor to the deal.SP Infocity is located on Chennais IT corridor and is 2 km away from the citys first IT landmark,Tidel Park.
This is the latest in the real estate sale series by the Shapoorji Pallonji Group.Some time ago,it sold Shapoorji Pallonji Biotech Park in Andhra Pradesh to Calfornia-based Alexandria Real Estate Equities.A Xander spokesperson said the company does not comment on market speculation.CBRE officials too declined to comment citing confidentiality norms.
Private equity groups like Blackstone,Baring and GIC of Singapore have stepped up its interest in Indias office buildings,especially assets in the outsourcing hubs of southern India,as a stable route to participate in the domestic real estate play.
Mapletree,which owns about S$20 billion of real estate assets,has been betting big on India.Some months ago,it acquired a technology park in Bangalore for Rs 800 crore.The $2-billion Xander that has Lord Jacob Rothschild,Harvard professor Arthur Segel and Sid Yog as its founding partners,is also extremely bullish on the Indian real estate market.
TOI,in April,had reported Xanders interest in buying a 1.2 million-sq ft retail cum hotel space in Chennai from southbased developer Ozone Group for Rs 350 crore.Xander also bought Futura,a grade-A business park,located in OMR from Appaswamy Real Estates Limited for US $40 million.
CLSA arm to sell 6.15% in Apollo Hosp
Mumbai: An arm of the global financial major CLSA is selling its 6.15% stake in the Chennai-based Apollo Hospital for about $130 million (around Rs 725 crore) through block deals.The transactions could be put across at the bourses through bulk and block deals on Thursday.Citigroups India arm,the brokerage house that did most of the block deals so far this year,is the sole manager to the offering,market sources said.
According to the details of the deal,which has been shared with mutual funds,insurance companies,FIIs and other select institutional investors,CLSA Mauritius,which usually deals with participatory notes (P-notes ),has put up for sale 85.5 lakh shares of Apollo Hospital at prices between Rs 824 and Rs 876.6 per share.At the lower end of the price range,the discount works out to 6% to its Tuesday closing of Rs 876.6.CLSA Mauritius is the fourth largest shareholder in the healthcare company.TNN
Xander,Temaseks Realty Arm Eye 450Cr Chennai Property
Anshul Dhamija & Reeba Zachariah TNN
Bangalore/Mumbai: Global investment house Xander Group and Mapletree,the real estate unit of Temasek Holdings,are in the fray to acquire Indian construction major Shapoorji Pallonjis business park SP Infocity,in Chennai,valued at Rs 450 crore.The Information Technology (IT) park is 27-lakh-sq-ft development,and the deal on the table comprises of 8-lakh sq ft of tenanted office space leased to clients like HSBC,Amazon,Saksoft,Hapag Lloyd,Lister Technologies,and Neeyamo.
It may include right of first refusal to buy rest of the development,possibly at a pre-determined price.Global real estate consultant CBRE is said to be the advisor to the deal.SP Infocity is located on Chennais IT corridor and is 2 km away from the citys first IT landmark,Tidel Park.
This is the latest in the real estate sale series by the Shapoorji Pallonji Group.Some time ago,it sold Shapoorji Pallonji Biotech Park in Andhra Pradesh to Calfornia-based Alexandria Real Estate Equities.A Xander spokesperson said the company does not comment on market speculation.CBRE officials too declined to comment citing confidentiality norms.
Private equity groups like Blackstone,Baring and GIC of Singapore have stepped up its interest in Indias office buildings,especially assets in the outsourcing hubs of southern India,as a stable route to participate in the domestic real estate play.
Mapletree,which owns about S$20 billion of real estate assets,has been betting big on India.Some months ago,it acquired a technology park in Bangalore for Rs 800 crore.The $2-billion Xander that has Lord Jacob Rothschild,Harvard professor Arthur Segel and Sid Yog as its founding partners,is also extremely bullish on the Indian real estate market.
TOI,in April,had reported Xanders interest in buying a 1.2 million-sq ft retail cum hotel space in Chennai from southbased developer Ozone Group for Rs 350 crore.Xander also bought Futura,a grade-A business park,located in OMR from Appaswamy Real Estates Limited for US $40 million.
CLSA arm to sell 6.15% in Apollo Hosp
Mumbai: An arm of the global financial major CLSA is selling its 6.15% stake in the Chennai-based Apollo Hospital for about $130 million (around Rs 725 crore) through block deals.The transactions could be put across at the bourses through bulk and block deals on Thursday.Citigroups India arm,the brokerage house that did most of the block deals so far this year,is the sole manager to the offering,market sources said.
According to the details of the deal,which has been shared with mutual funds,insurance companies,FIIs and other select institutional investors,CLSA Mauritius,which usually deals with participatory notes (P-notes ),has put up for sale 85.5 lakh shares of Apollo Hospital at prices between Rs 824 and Rs 876.6 per share.At the lower end of the price range,the discount works out to 6% to its Tuesday closing of Rs 876.6.CLSA Mauritius is the fourth largest shareholder in the healthcare company.TNN
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