The Competition Commission of India approved the acquisition by an IPO-bound real estate trust of several entities affiliated with private equity investors and a Bengaluru-based real estate group.

The proposed combination involves direct and indirect acquisition by the trust, acting through its management company, of certain entities previously owned by private equity and real estate groups, including jointly controlled entities. The trust is registered as a REIT and is engaged in owning and/or operating a portfolio of rent- or income-generating real estate assets.

The trust’s total portfolio spans 48 million sq ft, including 37 million sq ft of completed Grade A office assets across six major cities, making it one of the most geographically diverse office REITs in India. About 90% of the portfolio is leased, with 76% leased to multinational corporations and 45% to global capability centers.

The real estate group involved has developed 74 million sq ft across seven Indian cities in commercial, residential, co-living, co-working, hospitality, and data center sectors, with an additional 75 million sq ft in planning and implementation.

https://www.livehomes.in/news_letter