2023-12-20 20:11:00
Blackstone, a US-based private investment bank, has made a significant move in the Indian real estate market. The bank has sold its entire 23.50% stake in India’s first real estate investment trust, Embassy REIT, for a whopping Rs 7,100 crore. This sale comes at a price per share of Rs 316.10, which is slightly higher than the minimum bid price of Rs 310 but is seen as a discounted price compared to yesterday’s market price of Rs 332.11.
In other financial news, Air India has taken a loan of Rs 996 crore from Japan’s ‘SMPC’ bank. The loan has reportedly been used to pay for the Airbus A350-900 aircraft purchased by Air India last October. The cost of an A350-900 aircraft is said to be more than 2,500 crore rupees, and this loan was acquired by Air India’s ‘A.I. Fleet Services’, headquartered in Gujarat’s Guipd City.
Meanwhile, Mahindra Logistics has made an announcement that it has sold its entire 39.79% stake in its associate company, Transtech Logistics, known as DLPL. This means that DLPL will no longer be a subsidiary of Mahindra Logistics. Additionally, Mahindra’s 39.79% stake in DLPL has been transferred from Amarnath, one of the founders of DLPL, to Kalale, who is reported to have no connection with Mahindra company.
Lastly, the Union Finance Ministry has reported that in the first half of the current financial year, the capital expenditure of public sector enterprises reached 3.79 lakh crore rupees, reaching 52% of the budget estimate. This marks a significant increase from the 43% of the budget estimate at Rs 2.85 lakh crore in the corresponding period of the previous year. The capital expenditure of PSUs is estimated to be Rs 7.33 lakh crore in the current financial year’s budget estimate.
These financial moves have certainly made waves in the Indian financial market and will likely have a significant impact in the coming months.
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