India’s second largest listed real estate developer Prestige Estates Projects plans to raise at least $300 million, around Rs 2,000 crore, by selling up to 40% stake in its rent-yielding commercial assets and has drawn interest from Canadian Pension Plan and GIC of Singapore. The southern developer has hired JP Morgan to advise on the deal involving a string of shopping malls and office spaces valued at about Rs 5,000 crore, or $750 million, sources directly familiar with the matter said.\u00a0Prestige is likely to sell anywhere between 26% and 40% stake in the income-generating commercial unit, which will be a subsidiary of Prestige Estates.<\/p>\n
Read more: Economic Times<\/a><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" India’s second largest listed real estate developer Prestige Estates Projects plans to raise at least $300 million, around Rs 2,000 crore, by selling up to 40% stake in its rent-yielding commercial assets and has drawn interest from Canadian Pension Plan and GIC of Singapore. The southern developer has hired JP Morgan to advise on the\u2026 Read More »<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,18,11,21],"tags":[103,104],"class_list":["post-700","post","type-post","status-publish","format-standard","hentry","category-city","category-deals","category-others","category-sale","tag-commercial-sales","tag-office-space"],"_links":{"self":[{"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/posts\/700","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/comments?post=700"}],"version-history":[{"count":1,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/posts\/700\/revisions"}],"predecessor-version":[{"id":701,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/posts\/700\/revisions\/701"}],"wp:attachment":[{"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/media?parent=700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/categories?post=700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/tags?post=700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}