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Tata, Godrej, Patanjali Eye Sahara Group’s 30 Properties

Sahara Group’s 30 properties are estimated to be worth about Rs 7,400 crore.

Published
Business
2 min read
Sahara Group chief Subrata Roy. (Photo: PTI)

A large number of corporates, including Tatas, Godrej, Adani and Patanjali, have shown interest in buying embattled Sahara group's 30 properties estimated to be worth about Rs 7,400 crore.

The properties, mostly land parcels being auctioned by real estate consultant Knight Frank India, have also generated interest from several real estate developers including Omaxe and Eldeco, as also from HNIs and at least one public sector firm Indian Oil, sources familiar with the process said.

Besides, Chennai-based Apollo Hospital has shown interest in acquiring Sahara Hospital in Lucknow.

Sources, however, said that the sale process and the valuation could get impacted due to a hurry in getting the deals closed within a short time because of an urgency on part of Saharas to get the money and deposit the same with the regulator Sebi as per Supreme Court directions.

All prospective buyers are asking for 2-3 months for due diligence, which is considered to be normal period of time in the high-value real estate transactions, sources added.

When contacted, a Sahara group spokesperson declined to disclose the names of prospective buyers, saying "deals are in process and will materialise soon". He also said the details have been submitted to the Supreme Court.

Replying to specific queries, the Sahara group spokesperson said, “We twice advertised in various newspapers all over the country for selling around 30 properties. In response, we have received 163 Expressions from 59 prospective buyers and the deals are in process and will materialise soon.”

Asked about the details of the prospective buyers, the spokesperson said, "We have submitted the details to the Court. It will not be possible to comment on each prospective buyer and share details of the buyers and the deals at this level as it might not be conducive when the deals are in process."

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