morgan-stanley-values-indian-developer-at-15-billion

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 10% stake, suggesting the final valuation agreed, post-money is in the region of $1.5 billion. Morgan Stanley will also have the right to nominate one director to Oberoi Construction's seven strong board.

Kotak ran a...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222