Warbug Pincus, Runwal form JV to build malls, commit $200 mn each

Runwal Group already operates four malls in Mumbai with a total leasable area of approximately 2 million sqft

After an over $1-billion investment in Indian malls by US private equity (PE) firm Blackstone, another global PE player Warbug Pincus has charted plans to pump in a similar amount in malls here with its partner the Runwal group, which is based in Mumbai.

Both partners – Warbug and Runwal – would inject $200 million each in the form of equity and hold 50 per cent stake each. 

They plan to raise another $600 million in the form of debt to create a corpus of $1 billion to develop malls across tier-I, II and III cities in the country, the duo said