Xander, Ascendas among favourites to buy Blackstone's Pune IT parks

According to sources, Citi and Morgan Stanley are advising Blackstone on the sale

Private equity firms Xander Group, Shapoorji Pallonji-Allianz, and Singapore-based investor-developer Ascendas-Singbridge have emerged as front-runners to buy Blackstone’s information technology (IT) parks in Pune, sources said. 
 

“Though other global investors such as CPPIB, GIC and Brookfield, among others, have put in bids, Xander, Shapoorji-Allianz, and Ascendas are the finalists,” sources said.
 

The IT parks are based in the Hinjewadi area of Pune and have over 3 million sq ft area. The property is valued at about Rs 20 billion, sources said.
 

Blackstone is selling its 1.5-million-sq-ft Blue Ridge Special Economic Zone (SEZ) it had bought from private equity fund manager