Brookfield Asset Management and Tata Group are in talks to invest in Nexus Malls ahead of its planned IPO. The Blackstone-owned real estate investment trust is valued at around $3 billion and aims to raise $390 million through the share sale. Nexus Malls owns 17 commercial assets across 13 Indian cities and has seen a significant reduction in losses in the fiscal year ending March 2022. The IPO is set to begin trading on May 19, with lead book-running managers including Axis Capital, IIFL Securities, and BofA Securities India.
Brookfield Asset Management and Tata Group are in discussions to invest in anticipation of Nexus Malls' planned initial public offering (IPO). They are hoping that the Indian real estate investment trust would profit from an increase in the country's consumption levels.
According to sources, Blackstone Inc owned Nexus is aiming for a valuation of approximately $3 billion and hopes to raise about $390 million through the share sale. It owns 17 commercial assets throughout 13 Indian cities. Apple Inc established its second entirely owned location in India last month in a shopping mall owned by Nexus in New Delhi.
According to the sources Tata Investment Corporation, a division of the Indian conglomerate Tata Group is investing in the IPO. State Bank of India Life Insurance, SBI Mutual Fund, HDFC Life Insurance, HDFC Mutual Fund and Star Health Insurance are among its anchor investors. The US based Jane Street and the Asian fund Prusik Investment management are two international investors in addition to the Canadian investment firm Brookfield.
The REIT's losses decreased from $24.45 million to $1.34 million for the fiscal year that concluded on March 31, 2022. The lead book-running managers for the IPO were Axis Capital, IIFL Securities, and BofA Securities India. Nexus Malls will begin trading on the stock exchanges on May 19.
Brookfield Asset Management is a global alternative asset manager with over $600 billion in assets under management. The company invests in real estate, infrastructure, renewable power, private equity, and credit. Brookfield's investment strategy is focused on acquiring high-quality assets at attractive valuations and actively managing them to generate long-term value for its investors. The company operates in over 30 countries and has a team of more than 100,000 employees.
Tata Group is a multinational conglomerate based in India and founded in 1868. With over 100 companies operating in various industries such as steel, automotive, technology, hospitality, and more, the Tata Group is one of the largest business groups in India and the world. Some of its most well-known companies include Tata Motors, Tata Consultancy Services, Tata Steel, and Taj Hotels. The Tata Group is known for its commitment to corporate social responsibility and philanthropy, as well as its innovative and forward-thinking approach to business.
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