Fosun International Limited (SEHK:656) is in advanced discussions to invest $125 million in Nitesh Estates Limited (BSE:533202). Nitesh plans to issues shares to Fosun Property Holdings and IDERA Japan, which is controlled by the former, through preferential allotment. Nitesh Shetty, founder of Nitesh Estates will retain 25% and continue to run operational management.

Nitesh Hub mall in Pune, which is majority-owned by Goldman Sachs, is also not part of the ongoing deal with Fosun. When contacted, a senior Fosun India official and Nitesh Shetty declined to comment. M Financial, Yes Securities, Cyril Amarchand Mangaldas and EY are said to be advising on the deal-making.