Morgan Stanley Real Estate
has invested a whopping amount of Rs 675 cr in Mumbai based Oberoi
Constructions for an undisclosed stake in the largest private
equity deal. The list of big names participated in the bid includes
Blackstone, Carlyle and GE, among others.
The company is seeking to establish a substantial pan-India presence
as the country offers amazing growth prospects for all, says Vikas
Oberoi, MD of Oberoi Constructions. He further reveals to
raise an IPO in near future which is however not in picture right
now. As for now, the management prefers to take the private equity
route. The company has several real estate projects planned for
the cities like Pune, Hyderabad, and Bangalore, for which it will
hold land.
Morgan Stanley holds three years expertise in evaluating the
business and has accomplished a valuation on the basis of the
company’s individual assets, says Anand Maddurai. Morgan
Stanley is also known to have brought the largest foreign
direct investments (FDI) in India. Now, it would be looked
upon as the largest investor in Indian
real estate sector.
