Blackstone Plans To List Its $2.5B Indian Shopping Mall Portfolio Next Year

According to Bloomberg, Blackstone Inc BX plans to go public with its $2.5 billion Indian shopping mall portfolio. The IPO may raise $500 million, and the REIT could be listed in early 2023.
Blackstone is planning to file for the IPO as soon as next month, Bloomberg reported citing people familiar with the matter.
The private equity firm has been interviewing advisers for the Mumbai listing of a real estate investment trust.
Blackstone's Indian retail portfolio, held through its Nexus Malls unit, could be valued at about $2.5 billion.
Blackstone is India's most prominent commercial real estate firm and backed Embassy Office Parks REIT, the first property trust to conduct an IPO in India.
Nexus Malls consists of 17 shopping centers across 13 Indian cities.
Blackstone also acquired seven malls from Prestige Estate Projects in 2020.
Sources close to the matter say that the investment firm is in talks with advisers and is still in the early stages of an IPO filing.
Price Action: BX shares traded lower by 2.59% at $96 premarket on the last check Monday.

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