DM Harish & Co and Kanga & Co have advised on YES Bank CEO Rana Kapoor’s purchase of a residential building from Citibank and GlaxoSmithKline (GSK) for Rs 128 crore.

DM Harish partners Shobha Jagtiani and Anil Harish acted for Imagine Estate Pvt Ltd, in which Kapoor – YES Bank’s founder and managing director - and his family are directors. They plan to build a residential home and small office in the building, which was jointly owned by Citibank and GSK.

The sellers were represented by Kanga partner Kishore Vussonji and Apeksha Suaris.

According to the Economic Times, real estate company Indiabulls, private equity house Everstone Capital and the Hirco promoters also bid for the 14,800-square-foot property on Mumbai’s Altamont Road.

Citibank and GSK used the property as a home for several of their own executives.

It is located next to billionaire Mukesh Ambani’s 27-story private residence Antilla.

Photo by Christopher Macsurak