Macrotech Developers Expands Stakes in Warehousing Firms

Macrotech Developers has increased its holdings in three warehousing companies by acquiring shares from Ivanhoe Warehousing India Inc. for Rs 239.56 crore. The deal aims to boost Macrotech's rental income. The company now holds a significantly larger share in each of the three entities.

Macrotech Developers has increased its stake in three warehousing companies by buying out shares of Ivanhoe Warehousing India Inc. in these firms for Rs 239.56 crore.

This strategic share acquisition is expected to significantly enhance Macrotech Developers' rental income, a vital move for its expansion strategy.

In a regulatory filing, the company announced it has executed Securities Purchase Agreements (SPAs) to acquire the stakes 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.

Following this Rs 239.56 crore transaction, Macrotech's interests in 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, one of the nation's leading real estate firms, sells properties under the well-known Lodha brand.

(With inputs from agencies.)