Blackstone is planning the IPO of Nexus Malls

9 Sep 2022 , 11:51 AM

Blackstone Inc. is aiming to file as soon as next month an initial public offering (IPO) of its Indian shopping mall unit. The IPO may garner approximately $500 million.

A real estate investment trust will list in Mumbai, and the private equity group has been recruiting advisors.

Blackstone’s Nexus Malls unit, which holds the Indian retail portfolio, may be worth roughly $2.5 billion. As early as 2023, the REIT could be listed.

The largest owner of commercial real estate in India is Blackstone. It supports Embassy Office Parks REIT, the first property trust to launch an initial public offering (IPO) in India. In 2019, the vehicle raised 47.5 billion rupees.

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