Mumbai, Aug. 17 -- Global private equity firms Blackstone, Brookfield and Ascendas have placed binding bids to acquire the warehousing portfolio of ESR India as global investors consolidate their hold on the country's logistics infrastructure.

The deal, which is likely to value the business at Rs.3,500 crore ($400-420 million), is in its final stages, three people with direct knowledge of the development said.

"The binding bids came in on Thursday night. The firm will now sign exclusivity and proceed with one of the bidders," one person said. Mint first reported the company's plan to sell its warehousing portfolio on April 11. Real estate advisory firm JLL is advising ESR.

Spokespersons for Blackstone, Brookfield and Ascendas declined ...