Warburg Pincus’ $1 Billion JV with Runwal Group to build malls in India

Khaitan & Co advised Runwal Developers in relation to a 50:50 joint venture with Warburg Pincus LLC

Warburg Pincus Llc and Runwal Group have formed a joint venture (JV) to create a shopping mall platform.

Both partners will commit $200 million each in the form of equity and raise another $600 million in debt to create a corpus of $1 billion to invest in and develop shopping malls across tier 1, 2, and 3 cities in India, which have a sizeable population and growing disposable income.

The platform will look to build large, destination malls, as well as smaller hypermarket and cinema-anchored community malls.

Warburg Pincus LLC is a private equity and venture capital firm specializing in all stages of a company’s life cycle from founding startups, early-stage financings, growth equity investments, and developing companies to restructurings, recapitalizations, late stage, and management buyouts of mature businesses.

Runwal Group owns and develops real estate properties. The Company offers residential, commercial, and retail properties. Runwal Group serves customers in India.

Khaitan & Co advised Runwal with a team including Haigreve Khaitan (Picture), Deepak Jodhani, Aishwarya Nagpal and Aman Dwivedi with assistance from Shailendra Bhandare and Sourav Dan on intellectual property aspects.

Involved fees earner: Shailendra Bhandare – Khaitan & Co.; Deepak Jodhani – Khaitan & Co.; Haigreve Khaitan – Khaitan & Co.;

Law Firms: Khaitan & Co.;

Clients: Runwal Group;