21 Nov 2022

Nexus Select Trust has filled a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) last week in a bid to launch a retail REIT to raise $500 million. It will be India’s first rent-yielding retail REIT, with a portfolio of over 17 operational shopping malls comprising of 10 million square feet spread across 14 major cities. It includes Select Citywalk Mall located in New Delhi which is said to contain over 3,00 stores. The estimated value of the Trust’s assets is said to be around $3 billion.Read more

18 Nov 2022

The State Bank of India (SBI) has increased its marginal cost of funds-based lending rate (MCLR) by up to 15 basis points across all tenors. The benchmark one-year MCLR, has increased by 10 basis points (bps) to 8.05 percent, up from 7.95 percent previously. The two-year and three-year MCLRs have increased by 10 basis points each to 8.25 per cent and 8.35 per cent, respectively. The one-month and three-month MCLRs have each been raised by 15 basis points to 7.75 percent. The overnight rate is higher by 10 basis points at 7.60%, while the six-month MCLR has increased by 15 basis points to 8.05%.Read more

18 Nov 2022

At the HDFC Real Estate Tech Innovator’s Challenge 2022 which was hosted in partnership with Invest India and Housing and Urban Affairs Minister Hardeep Puri, HDFC Capital backed H@ART platform announced that it had shortlisted 10 start-ups that it intends to fund and support. The finalists included companies focused on fintech, construction tech, sustainability tech and sales tech.Read more

17 Nov 2022

Earlier this week Kotak Investment Advisors secured an anchor investment of USH 500 million from Abu Dhabi Investment Authority (ADIA) for its soon to be launched real estate Alternate Investment Fund (AIF). This will be the thirteenth real estate fund by Kotak aimed at raising USD 1 billion to invest across various realty asset classes and capital stack which will include both debt and equity investments. The fund is looking to focus on the residential sector. Kotak Investment Advisors and Abu Dhabi Investment Authority have a long-standing relationship and intend to foster relations in the future with such collaborative ventures.Read more

17 Nov 2022

The Bengaluru based fintech investment platform Bhive recently announced a reduction in its minimum investment threshold from 10 lac rupees to 5 lac rupees, along with attractive offers and discounts on limited units. Through its new initiative the company launched 500 units of commercial real estate space in ‘Brigade Metropolis’ in Whitefield, Bengaluru. The company claims to offer an average rental return of up to 10.5% per annum. Fractional ownership entities are not regulated by SEBI or any other investment authority in India.Read more

15 Nov 2022

Keystone Realtors Ltd (KRL), which sells properties under the brand 'Rustomjee’, launched its initial public offering (IPO) on Monday, November 14, 2022. Investors will be allowed to subscribe till Wednesday, November 16, 2022. The Mumbai-based real estate developer has fixed a price band of INR 514-54/- a share. The company is looking to raise ?635 crore through the initial share sale, which consists of a fresh issue of equity shares aggregating up to ?560 crore and an Offer-For-Sale (OFS) worth ?75 crore by promoters. According to data from the NSE, on its first day the issue has been subscribed 8 percent.Read more

15 Nov 2022

The K Raheja managed Mindspace Business Parks REIT declared a growth of 16 percent year-on-year (YoY) at 417 crore rupees for Q2 FY 23. The company recorded a profit after tax (PAT) of 87 crore rupees in Q2 FY23 as against 130 crore rupees in the corresponding quarter of the last fiscal year. However, its net consolidated income stood at 686 crore rupees for the quarter which indicates a 60 per cent growth from 428 crore rupees recorded for the same period last fiscal year. As of 30th September 2022, its net debt stands at Rs 4,4650 crore, with a net debt to market value of 16.8% while the portfolio's gross asset value rose to Rs 27,300 crore in September 2022, a 3.3 percent increase YoY.Read more

11 Nov 2022

The real estate private equity investment arm of HDFC, HDFC Capital Advisors has inked a deal with Mumbai based Shapoorji Pallonji Real Estate to invest over 1500 crore rupees via structured debt instruments into six projects spanning across 7 million square feet in Mumbai and Pune. The projects are a mix of affordable and mid-income housing located in Central Mumbai, Hadaspar and the outskirts of Pune City. The money will be used for repayment of high-cost debt, working capital and to ensure financial closure of the projects.Read more

01 Jan 1970

Larsen & Toubro (L&T) has mobilised INR 500 crore through the issuance of non-convertible debentures (NCDs) tied to environmental, social and governance (ESG) benchmarks. The NCDs, valued at INR 1 lakh each and carrying an interest rate of 6.35%, will mature in 2028 and bear annual interest. The issuance is part of SEBI�s ESG Debt Securities Framework and is expected to be listed on the NSE. Meanwhile, L&T recorded a 25% increase in consolidated profit after tax for the March quarter, supported by higher operational revenues and an exceptional gain.Read more

01 Jan 1970

Larsen & Toubro (L&T) has mobilised INR 500 crore through the issuance of non-convertible debentures (NCDs) tied to environmental, social and governance (ESG) benchmarks. The NCDs, valued at INR 1 lakh each and carrying an interest rate of 6.35%, will mature in 2028 and bear annual interest. The issuance is part of SEBI�s ESG Debt Securities Framework and is expected to be listed on the NSE. Meanwhile, L&T recorded a 25% increase in consolidated profit after tax for the March quarter, supported by higher operational revenues and an exceptional gain.Read more