Morgan Stanley, ex-employees' fund bet on India's warehousing space

International News

Morgan Stanley and a store the board organization set up by its previous officials are getting forceful in the nation's warehousing space.
Morgan Stanley, which suspended putting resources into the land division two or three years back, has purchased dominant part stakes in a warehousing engineer and other such tasks this year.
As of late, Morgan Stanley Real Estate Investing (MSREI), the land speculation the board arm of Morgan Stanley Investment Management, acquired a controlling stake in warehousing undertaking worked by the Pragati Group in the National Capital Region (NCR) district.
The 30-section of land undertaking is situated on NH 8 and marked as Pragati One.
Not long ago, MSREI purchased a larger part stake in KSH Infra, a Pune-based warehousing and modern coordinations park engineer. KSH Infra works two warehousing and mechanical coordinations stops in Pune. The distribution centers, with an absolute territory of one million square feet, are rented out to bluechip multinationals.
Morgan Stanley has likewise set up a stage with Bengaluru-based engineer Puravankara Projects for modern parks.
"They are likewise assessing different open doors in the space," said the sources, including that the store director could likewise tap the land speculation trust or REIT space later on.

 In spite of the fact that Morgan Stanley inked private land bargains before, it is presently concentrating just on lease yielding resources, sources said. A mail sent to Morgan Stanley didn't evoke any reaction....READ MORE

Relaxed FPI norms in InvITs to help Reliance, Tata Power cut debt

International News

The infrastructure InvITs to be launched by Reliance Industries, Tata Power and Vodafone Idea will be able to attract investments from foreign portfolio investor (FPIs), with the Union Budget relaxing norms to enable FPIs to subscribe to listed debt securities issued by the InvITs and REITs.
While Sebi had operationalised issue of debt securities under the InvIT and REIT regulations, raising financing from FPIs had hit a roadblock due to restrictions under the FPI regulations as only corporate debentures were permitted.
"As Invits and REITs are organised as trusts, it is now proposed to align the FPI regulations and permit FPIs to subscribe to debt securities issued by Invit and REITs," said Shagoofa Rashid Khan, Partner, Cyril Amarchand Mangaldas.
Reliance Jio Infocomm, a subsidiary of Reliance Industries, plans to hive off its telecom and fibre assets to two separate InvITs. With this, Reliance will be able to park debt worth $15.4 billion with the InvIT which is seeking investments from both foreign and local investors.
Taking a leaf from RIL's books, Tata Power also plans to deleverage its balance sheet by hiving off its renewable energy portfolio and park debt worth Rs 10,000 crore with the InvIT. Tata Power had gross debt of Rs 48,500 crore as on March 2019. Vodafone Idea, owned by Vodafone and Aditya Birla group, is also planning an InvIT to hive off part of its Rs 1.2 trillion debt.
The move will also help Embassy Office Park REIT, which was listed recently on the Indian stock exchanges.

 As of now, foreign investments via the FPI route are too restrictive and despite interest shown by overseas participants to invest in the InvITs of top-rated companies's , they were not allowed...Read More