Runwal Group and Warburg Pincus enter into a JV to form a retail mall platform

Sandeep Runwal, MD, Runwal Group has formed a joint venture with an affiliate of Warburg Pincus, a leading global private equity firm focused on growth investing, to create a retail mall platform. Both partners will commit $200 million each in the form of equity and shall raise another $600 million in the form of debt to create a corpus of $1 billion, to invest in and devaelop high quality shopping malls across tier 1, 2, and 3 cities in India which have a sizeable population and growing disposable incomes.
This strategic partnership is founded on a shared vision to create India’s pre-eminent retail mall platform which will benefit from the country’s rapidly growing retail sector at a time when mall penetration across Indian cities is still very low.
The platform will look to build large destination malls as well as smaller hypermarket and cinema anchored community malls. Retail malls in several countries around the world have transformed from pure shopping areas into social, community and entertainment centers. The platform would look to capitalize on this trend by adopting designs for its malls which provide an optimal environment and a high quality experience for all tenants and customers.