Deals
Blackstone Eyes IPO Filing for $2.5 Billion India Mall Portfolio
- US firm is interviewing advisers for Nexus Malls REIT listing
- Listing could mark India’s first retail property-focused REIT
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Blackstone Inc. is planning to file as soon as next month for an initial public offering of its Indian shopping mall portfolio that could raise about $500 million, people familiar with the matter said.
The private equity firm has been interviewing advisers for the Mumbai listing of a real estate investment trust, according to the people, who asked not to be identified because the information is private. Blackstone’s Indian retail portfolio, which is held through its Nexus Malls unit, could be valued at about $2.5 billion, the people said. The REIT could be listed as soon as 2023, they said.