Real estate developer RMZ Corp. has started the process of selecting investment banks to manage its initial public offering (IPO) for its proposed real estate investment trust (REIT) which could see the developer raise more than Rs 2,000 crore, three people aware of the development said.
REITs are entities that primarily invest in leased office and retail assets, allowing developers to raise funds by selling completed, rent-yielding buildings to investors.
The developer had invited investment banks to pitch for the mandate to manage the offering, they said, requesting anonymity.
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