An asset management firm has entered into a definitive agreement with a real estate developer to acquire office space spread across two floors in a commercial tower located in Mumbai’s Lower Parel business district for ?486 crore. The firm plans to shift its headquarters to this 52,162 sq ft office from its current location in the same vicinity.

In a regulatory filing, the asset manager stated that it has no shareholding relationship with the seller and that the transaction does not qualify as a related-party deal. However, the filing did not mention the shift of its headquarters to the new premises.

As part of the agreement, the buyer will receive exclusive signage rights for the space situated on the 29th and 30th floors of the 36-storey commercial tower.

The asset management firm handles a wide range of investment products, including mutual funds, exchange-traded products, managed accounts, alternative investment structures, pension funds, and offshore mandates. It was also the first asset management entity to be listed on the Indian stock exchanges in 2017.

https://www.livehomes.in/news_letter