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Macrotech Developers says this is in pursuance of its planned strategy for calibrated growth in our annuity income through digital infrastructure viz. industrial and logistics under the LILP (Lodha Industrial and Logistics Park) brand.
Macrotech Developers in September acquired the interest of Ivanhoe Warehousing India Inc (Ivanhoe) in the digital infrastructure platform entities.
Realty firm Macrotech Developers has acquired Bain Capital’s stake in three industrial and logistics park entities for Rs 307 crore as part of a strategy to enhance rental income. Macrotech Developers is one of the leading real estate firms in the country. It sells properties under Lodha brand.
In a regulatory filing on Thursday, the company informed that it has “executed Securities Purchase Agreements (SPAs) with India Opportunities Fund SSA Scheme 1 and DSS Opportunities Investment 1 (Bain Capital) for acquisition of their interest in the digital infrastructure platform entities (Bellissimo Digital Infrastructure Development Management Pvt Ltd, Palava Induslogic 4 Pvt Ltd and Bellissimo In City FC Mumbai 1 Pvt Ltd), in entirety at a consideration of Rs 307 crore”.
Bain Capital had a 30 per cent stake in Bellissimo Digital Infrastructure Development Management Pvt Ltd and a 33.33 per cent stake each in the other two entities.
This is in line with the company’s objective of gradually growing its annuity income.
“This is in pursuance of our planned strategy for calibrated growth in our annuity income through digital infrastructure viz. industrial and logistics under the LILP (Lodha Industrial and Logistics Park) brand,” the company said.
In September, the company acquired the interest of Ivanhoe Warehousing India Inc (Ivanhoe) in the digital infrastructure platform entities.
Macrotech Developers has a significant presence in the housing segment. Now, it is developing offices, malls and logistics parks to grow its rental income.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)
