Macrotech Developers Boosts Stake in Warehousing Firms with Rs 239.56 cr Investment
Macrotech Developers, a leading real estate firm, increases stake in three warehousing companies, aiming to enhance rental income.
Macrotech DevelopersWarehousingReal EstateIvanhoe Warehousing India IncLodha BrandReal EstateSep 19, 2024
The acquisition is a strategic move by Macrotech Developers to expand its presence in the warehousing sector, which has been witnessing significant growth in recent years. The company has executed Securities Purchase Agreements (SPAs) with Ivanhoe Warehousing India Inc. to acquire the shares.
As a result of this acquisition, Macrotech Developers' stake in the three warehousing companies - Bellissimo Digital Infrastructure Development Management Pvt Ltd, Palava Induslogic 4 Pvt Ltd, and Bellissimo In City FC Mumbai 1 Pvt Ltd - will increase to 70%, 66.67%, and 66.67%, respectively.
Macrotech Developers is a well-established real estate firm in India, known for selling properties under the Lodha brand. The company's foray into the warehousing sector is expected to further diversify its revenue streams and enhance its market presence.
Information
Macrotech Developers is a leading real estate company in India, with a strong presence in the residential and commercial segments. The company has been expanding its portfolio to include new asset classes, such as warehousing and logistics.
Macrotech Developers is a renowned real estate firm in India, with a legacy of delivering high-quality projects. The company is committed to providing innovative and sustainable solutions to its customers.
Frequently Asked Questions
What is the amount invested by Macrotech Developers in the warehousing firms?
Macrotech Developers has invested Rs 239.56 crore to increase its stake in three warehousing firms.
What is the expected outcome of this acquisition for Macrotech Developers?
The acquisition is expected to enhance Macrotech Developers' rental income and expand its presence in the warehousing sector.
What is the current stake of Macrotech Developers in the three warehousing companies?
After the acquisition, Macrotech Developers' stake in the three warehousing companies will increase to 70%, 66.67%, and 66.67%, respectively.
What is the brand under which Macrotech Developers sells its properties?
Macrotech Developers sells its properties under the Lodha brand.
What is the significance of this acquisition for Macrotech Developers?
This acquisition marks Macrotech Developers' foray into the warehousing sector, which is expected to further diversify its revenue streams and enhance its market presence.
Related News Articles
Shine City President Arrested for Rs 1000 Crore Fraud in Real Estate Scam
Lucknow police arrest Shine City president for duping investors of over Rs 1000 crore in real estate scam, mastermind CMD Rashid Naseem absconding
NCLAT Puts Coastal Energen Resolution Plan on Hold Amidst Allegations of Irregularities
The Chennai bench of the National Company Law Appellate Tribunal (NCLAT) has stayed the implementation of the resolution plan for Coastal Energen, a power generation company, amidst allegations of irregularities in the bidding process.
JSA Boosts Projects, Infrastructure and Real Estate Practice with Two New Partners
M Arun Kumar and Deepak Chowdhury join JSA as Equity Partners, bringing their expertise in projects, infrastructure and real estate to the firm.
Samvat 2081: A Golden Opportunity for Investors to Reshape Financial Futures
As the Indian stock markets enter Samvat 2081, investors are presented with a remarkable opportunity to redefine their financial journeys in a dynamic and thriving economic landscape.
Dharavi Redevelopment Project Now Under Navbharat Mega Developers
Dharavi, Mumbai's iconic slum, is set for a major transformation as the real estate firm behind the redevelopment project has renamed itself Navbharat Mega Developers Private Ltd (NMDPL). The company, known for its ambitious urban renewal projects, is now
MahaRERA Suspends 1,950 Real Estate Projects for Non-Compliance
To safeguard homebuyers' interests, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has suspended the registration of 1,950 real estate projects for non-compliance with regulations.