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Firm Matters

Blackstone’s acquisition of South City Projects (Kolkata) Limited for INR 3,250 Crores

  • 18-Jun-2025

Khaitan & Co advised the Blackstone Group in its acquisition of South City Projects (Kolkata) Ltd (“SCPKL”) from its existing shareholders, comprising of Merlin Group, Sureka Group, Emami Group, JB Group, Shrachi Group and Rameswara Group. SCPKL houses the iconic “South City Mall” in Kolkata, West Bengal. 

This acquisition strengthens Blackstone’s presence in the eastern Indian market and marks one of the largest private equity investments in the region. Blackstone plans to position South City Mall for long-term success benefiting from the American giant’s scale, operational expertise and deep experience in the real estate sector. 

The Firm acted as the legal counsel to the Blackstone Group and advised and assisted them on structuring of the transaction, legal and title due-diligence, and drafting, negotiation, finalisation and execution of definitive agreements relating to the transaction.

Deal Team

Blackstone

The deal team comprised of Deepak Jodhani (Partner), Shourya Sengupta (Partner), Sneh Lata (Principal Associate), Divyansh Joshi (Senior Associate), Shreetama Chakraborty (Senior Associate), Aanchal Khandelwal (Associate) and Ishaan Nagarkatti (Associate).

Strategic Guidance

Haigreve Khaitan (Senior Partner)

The deal team was assisted by:

Real Estate: Gaurav Dasgupta (Partner) and Richaa Mukhopadhyay (Associate)

Competition / Antitrust: Anisha Chand (Partner), Tanveer Verma (Principal Associate) and Ritika Ghosh (Associate)

Corporate and Commercial: Sanchit Agarwal (Partner), Romit Kohli (Associate) and Shivangi Mishra (Associate) Karishma Sethia (Senior Associate)

Employment Labour & Benefits: Deepak Kumar (Partner) and Varsha Sankara Raman (Associate)

Disputes Resolution: Rajiv Bhatnagar (Partner), Ishaan Khanna (Counsel), Pratik Shanu (Principal Associate) and Agni Sen (Senior Associate)