Whether you call it self realisation or market compulsions, Gautam Singhania (Chairman) announces what market wanted to hear – Raymond group will be reorganised in five core focus areas – textile, fmcg, real estate, education and engineering. All businesses will be managed by boards that will be made completely professional in the next 12 months. … Read more
Phoenix Mills Ltd (PML) and Canada Pension Plan Investment Board (CPPIB) have entered into a new joint venture agreement to co-develop an office-led, mixed-use asset, which is part of Phoenix Palladium in Mumbai’s Lower Parel. Key points to note – CPPIB will invest Rs 1,350 crore in tranches for a 49% stake in the joint … Read more
Macrotech Developers (Lodha Group) is raising about Rs 4,000 crore equity through preferential placement to the institutional investors. Key points to note – Issue comprises of 3.4 crore fresh issues of shares at floor price of Rs 1184.7/ share It would entail 7.5% dilution of the existing shareholders Objective of the fund raise is wide … Read more
The-controlled Godrej & Boyce Manufacturing Company (G&B) will continue to retain the around 3,401 acres of land that it owns, even as a division in the family business is expected to conclude soon. The Godrej family is synonymous with landholdings and the maintenance of what is the largest privately managed mangrove belt in the city. … Read more
Tata Sons Ltd, the holding company of India’s largest conglomerate, is evaluating the sale of non-core real estate assets owned by its operating companies, including land, and residential and commercial real estate, two people aware of the plans said. The company has engaged consultants to identify and value the group’s real estate assets in India … Read more
A special purpose vehicle (SPV) in the form of a company would be set up to hold these assets which would be monetised to fetch value to the exchequer The Finance Ministry will soon move the Cabinet to seek approval for setting up a company for transfer and subsequent monetisation of land and non-core assets … Read more