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Blackstone's India logistics platform inks deal to manage govt warehouses
VCCircle
·
11m ago
Medial
Private equity firm Blackstone has partnered with the Central Warehousing Corporation (CWC) to develop and modernise warehousing assets across India. Blackstone's logistics platform, Horizon Industrial Parks, will enter a 45-year contract to design, build, finance, and operate the facilities, with the aim of facilitating the development of Grade A warehouses across 13 locations. The partnership has a cumulative development potential of 2.4 million square feet and an investment potential of over INR 700 crore ($93.6m). The CWC has also awarded contracts for the redevelopment of three additional properties to RSA Warehousing, TransAsia Shipping, and LL Logistics.
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Brookfield to acquire majority stake in GII's 1.5-mn-sq-ft logistics portfolio
VCCircle
·
1y ago
Medial
Canadian alternative investment firm Brookfield Asset Management is set to acquire a majority stake in UAE-based Gulf Islamic Investments' logistics real estate platform. The deal includes a portfolio of 1.5 million square feet of warehouses in the UAE, including the warehouse for e-commerce player Noon. This move marks Brookfield's entry into the logistics sector in the Middle East and aligns with GII's strategy to reduce its real estate holdings and focus on private equity and venture capital investments. Brookfield plans to invest and scale the logistics platform over time through the acquisition and development of quality logistics assets.
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Foot Locker to step into India, inks deals with Metro Brands, Nykaa
Reuters
·
1y ago
Medial
Foot Locker has announced its plans to enter the Indian market in 2024 through a partnership with Metro Brands and Nykaa. Under the agreement, Metro Brands will exclusively operate Foot Locker stores in India, focusing on selling brands like Nike and Adidas. Nykaa Fashion will manage Foot Locker's India website and sell authorized merchandise on its platform. This move comes as Foot Locker seeks to expand its global footprint amidst challenges in its domestic market. Rising affluence and shifting consumer preferences in India make it an attractive destination for foreign brands.
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EQT-Temasek’s green energy platform O2 inks deal for solar assets in India
VCCircle
·
10m ago
Medial
O2 Power, a renewable energy platform created by EQT and Temasek, has signed a deal to acquire the solar power assets of a green energy firm in India. O2 Power, which is undergoing a change in ownership, aims to expand its presence in the Indian market and contribute to increasing renewable energy capacity in the country.
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Third-party firms look to sort out logistics of quick commerce race
Economic Times
·
1y ago
Medial
Third-party logistics firms like Delhivery and Xpressbees are venturing into the quick-commerce sector to meet the growing demand from platforms like Swiggy Instamart and others. Delhivery is managing larger warehouses for Swiggy Instamart, while Xpressbees is in talks to enter the segment. These logistics players aim to provide infrastructure and expertise to quick-commerce platforms as they expand their offerings. The move allows them to tap into the sizable quick-commerce market and support platforms in managing warehouses and ensuring compliance with processes. Large ecommerce players like Amazon and Flipkart are also exploring entry into the quick delivery segment.
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ShareChat faces a valuation cut; PAG inks debt deal
VCCircle
·
1y ago
Medial
Social media platform ShareChat is reportedly in talks to raise $50 million in funding, but may face a valuation cut below $1.5 billion. This is a significant drop from its previous valuation of $4.9 billion. Existing investors Temasek and other backers are believed to be participating in the funding round. Meanwhile, investment firm PAG has signed a debt deal with ShareChat.
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Blackstone acquires Kolkata's South City Mall for Rs 3,250 crore
Economic Times
·
1m ago
Medial
Blackstone has acquired Kolkata's South City Mall for Rs 3,250 crore. This marks a significant addition to Blackstone's retail portfolio in India. The mall, spanning over one million square feet, features over 150 stores, the largest food court in Kolkata, and parking for over 1250 cars. With an annual turnover of Rs 1800 crore, it attracts 55,000-60,000 daily visitors. The transaction highlights Blackstone's commitment to India’s retail sector.
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Axis AMC’s real estate fund with Tishman Speyer inks debut deal
VCCircle
·
12m ago
Medial
Axis Asset Management Company, a subsidiary of Axis Bank, has entered into its first deal with US developer Tishman Speyer through its real estate investment fund. The partnership established the Axis Commercial Real Estate Fund, a category-II alternative investment fund. The Mumbai-based Axis AMC aims to tap into the growing commercial real estate sector in India through this collaboration. Further details about the deal have not been provided.
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Ola Cabs launches loyalty programme,
YourStory
·
11m ago
Medial
Ola Cabs has introduced a loyalty program called Ola Coin and relaunched its ride-sharing service on its platform in an effort to boost its cab business amidst competition. The company also plans to focus on commerce and consumer services and has rebranded as Ola Consumer. Ola Coin will reward users for transactions made on the Ola platform. Additionally, Ola Consumer aims to establish tech-enabled warehouses and fulfillment centers to streamline logistics operations. The company also plans to expand its Ola food and grocery delivery service, ONDC, and introduce more categories.
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Delhivery And Xpressbees Mull Entry Into Quick Commerce
Inc42
·
1y ago
Medial
Delhivery, a logistics company based in Gurugram, is expanding its services to include managing larger warehouses for Swiggy Instamart's dark stores or fulfilment centres. Additionally, Delhivery has established a subsidiary called Delhivery Robotics India, which will focus on manufacturing drones and providing air transportation services for freight. The quick-commerce industry in India has seen significant growth, with a 77% year-on-year increase in gross merchandise value to $2.8 billion in 2023, according to a report.
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Mubadala inks deal to invest in Indian healthcare sector
VCCircle
·
1y ago
Medial
Mubadala Investment Company, the sovereign wealth fund of Abu Dhabi, has made a deal to acquire a stake in an Indian healthcare company, marking its return to the Indian market after 18 months. The private equity-style investment signals Mubadala's continued interest in the healthcare sector and its commitment to expanding its portfolio in India.
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