Adani Realty in talks to acquire Ozone Group for $1 billion
Real Estate

Adani Realty in talks to acquire Ozone Group for $1 billion

Adani Realty is in talks to acquire Indian developer Ozone Group at an enterprise value of around $1 billion, as per the people aware of the matter.

Adani Realty Limited aims to acquire the Bengaluru-based Ozone, which has an outstanding debt of over Rs 60 billion. Ozone has ongoing projects in Bengaluru, Chennai and Mumbai, as per the information available on its website.

As part of this deal, Adani’s 10-year-old developer arm will be acquiring the debt of Ozone which has been struggling to repay creditors. Ozone has supplied 13.5 million sq ft of real estate projects so far and has 48 million sq ft in different stages of development.

The closely-held real estate arm of the ports-to-power group, run by Asia’s second-richest person, will look for more stressed real estate firms and land parcels, they said, to expand the business rapidly. Adani Realty has been constructing residential and commercial projects of over 69 million sq ft across Indian cities of Mumbai, Ahmedabad, Kochi, Mundra, Gurgaon, as per the group website.

Image Source

Adani Realty is in talks to acquire Indian developer Ozone Group at an enterprise value of around $1 billion, as per the people aware of the matter. Adani Realty Limited aims to acquire the Bengaluru-based Ozone, which has an outstanding debt of over Rs 60 billion. Ozone has ongoing projects in Bengaluru, Chennai and Mumbai, as per the information available on its website. As part of this deal, Adani’s 10-year-old developer arm will be acquiring the debt of Ozone which has been struggling to repay creditors. Ozone has supplied 13.5 million sq ft of real estate projects so far and has 48 million sq ft in different stages of development. The closely-held real estate arm of the ports-to-power group, run by Asia’s second-richest person, will look for more stressed real estate firms and land parcels, they said, to expand the business rapidly. Adani Realty has been constructing residential and commercial projects of over 69 million sq ft across Indian cities of Mumbai, Ahmedabad, Kochi, Mundra, Gurgaon, as per the group website. Image Source

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000