Macrotech Developers acquires Bain Capital’s stake in 3 businesses for Rs 307 crore
Realty firm Macrotech Developers has acquired Bain Capital’s stake in three industrial park and logistics companies for Rs 307 crore as part of a strategy to boost rental income.
Macrotech Developers is one of the leading real estate firms in the country. It sells properties under the 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) to acquire their interest in digital infrastructure platform companies (Bellissimo). Digital Infrastructure Development Management Pvt Ltd, Palava Induslogic 4 Pvt Ltd and Bellissimo E-City FC Mumbai 1 Pvt Ltd), altogether considering Rs 307 crore”.
Bain Capital had 30 percent stake in Bellissimo Digital Infrastructure Development Management Pvt Ltd and 33.33 percent each in two other entities.
This is in line with the company’s goal of gradually increasing annual revenue.
“This follows our planned strategy of moderate growth in annual revenue through the use of digital infrastructure which is Industrial and Logistics under the brand name LILP (Lodha Industrial and Logistics Park),” the company said.
In September, the company acquired Ivanhoe Warehousing India Inc (Ivanhoe)’s interest in digital infrastructure platform companies.
Macrotech Developers has a significant presence in the real estate segment. Now, it is developing offices, malls and shopping parks to increase rental income.
