According to Business Standard, GIC Pte. Ltd. acquired 50% stake in Viviana Mall in Mumbai from Sheth Developers Pvt. Ltd. (Sheth Developers) for INR 10 billion.

An executive aware of the development, said that proceeds from the transaction is likely to be used by Sheth Developers to pare its debt. According to sources, Xander International Corp. (GTSM:6118), The Blackstone Group L.P. (NYSE:BX) and The Phoenix Mills Limited were also eyeing the property.