Morgan Stanley values Indian developer at $1.5 billion
Morgan Stanley's special situations unit places its largest bet in India's real-estate sector thus far, investing $152 million for a 10% stake in Oberoi Constructions.
Morgan Stanley has invested Rs6.75 billion $152 million for around a 10% stake in Indian real-estate developer Oberoi Constructions. This is the largest disclosed private-equity investment in IndiaÆs real-estate sector to date and one of Morgan Stanley's special situations unit's largest equity investments in the real-estate space globally.
Indian media had been speculating that sell-side advisor, Kotak Investment Bank, valued Oberoi Constructions at higher than $1 billion, pre-money. Sources close to the deal say Morgan Stanley has acquired around a...
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