Deliberations are still ongoing and details of the offering including timing as well as size could change, said the people. A representative for IndoSpace couldn’t immediately respond to a request for comment.
IndoSpace, a developer and manager of industrial and logistics properties in India, is considering an initial public offering in Singapore that could raise as much as US$700 million, according to people with knowledge of the matter.
The developer, which is backed by logistics real estate investor GLP Pte, is working with advisers on the planned first-time share sale, said the people, who asked not to be identified as the process is private. A listing in the city-state could take place as soon as the end of this year, the people said.
