Macrotech Developers Boosts Stake in Warehousing Firms with Rs 239.56 Crore Deal
Real estate firm Macrotech Developers has increased its stake in three warehousing companies, buying out shares of Ivanhoe Warehousing India Inc. for Rs 239.56 crore.
Macrotech DevelopersIvanhoe Warehousing India IncWarehousingReal EstateLogisticsReal Estate MumbaiSep 19, 2024
The acquisition was made through Securities Purchase Agreements (SPAs) executed with Ivanhoe Warehousing India Inc. As a result, Macrotech Developers has increased its stake in three 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.
The company's stake in these entities will now stand at 70%, 66.67%, and 66.67%, respectively. This investment is expected to yield significant returns for Macrotech Developers, which sells properties under the Lodha brand.
Macrotech Developers is a prominent player in the Indian real estate market, with a strong presence in Mumbai and other major cities. The company's foray into the warehousing sector is a strategic move to diversify its portfolio and tap into the growing demand for logistics and warehousing facilities.
Macrotech Developers is a leading real estate company in India, with a strong track record of delivering high-quality projects. The company has a diverse portfolio of residential, commercial, and industrial projects across the country.
Macrotech Developers is a renowned real estate company in India, with a reputation for building world-class projects. The company's commitment to quality, innovation, and customer satisfaction has made it a trusted name in the industry.
Frequently Asked Questions
What is the amount of the deal between Macrotech Developers and Ivanhoe Warehousing India Inc.?
The deal is worth Rs 239.56 crore.
What is the expected outcome of the acquisition for Macrotech Developers?
The acquisition is expected to increase Macrotech Developers' rental income.
What is the stake of Macrotech Developers in the three warehousing firms after the acquisition?
Macrotech Developers' stake in the three entities will now stand at 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 the acquisition for Macrotech Developers?
The acquisition is a strategic move by Macrotech Developers to diversify its portfolio and tap into the growing demand for logistics and warehousing facilities.
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