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...
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