Global private equity firm Blackstone Group Lp is set to buy an 80% majority stake in Nitesh Hub, a shopping mall in Koregaon Park, Pune from real estate firm Nitesh Estates Ltd for around Rs310 crore, said two people familiar with the transaction, who did not wish to be named.

The remaining stake in the mall will remain with Bengaluru-based Nitesh Estates.

Once the transaction is concluded, existing investor Goldman Sachs Group Inc. will exit the project.