Net proceeds from this divestment, if assumed to repay debt will strengthen the trust’s balance sheet, will help lower gearing to 36.8% from 38.5%.
DBS Group Research has maintained its "buy" call on CapitaLand India Trust following its first divestments since listing.
The REIT sold CyberVale in Chennai and Cyber Pearl in Hyderabad to an unrelated third party for 11 billion rupees or around 161.7 million. The divestment price is at a 3% premium to the last valuation as of end of 2024.
