Macrotech Developers acquires Bain Capital's stake in 3 entities for Rs 307 crore

Realty steadfast Macrotech Developers has acquired Bain Capital's involvement successful 3 concern and logistics parkland entities for Rs 307 crore arsenic portion of a strategy to heighten rental income.

Macrotech Developers is 1 of the starring existent property firms successful the country. It sells properties nether Lodha brand.

In a regulatory filing connected Thursday, the institution 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 involvement successful the integer infrastructure level entities (Bellissimo Digital Infrastructure Development Management Pvt Ltd, Palava Induslogic 4 Pvt Ltd and Bellissimo In City FC Mumbai 1 Pvt Ltd), successful entirety astatine a information of Rs 307 crore".

Bain Capital had a 30 per cent involvement successful Bellissimo Digital Infrastructure Development Management Pvt Ltd and a 33.33 per cent involvement each successful the different 2 entities.

This is successful enactment with the company's nonsubjective of gradually increasing its annuity income.

"This is successful pursuance of our planned strategy for calibrated maturation successful our annuity income done integer infrastructure viz. Industrial and logistics nether the LILP (Lodha Industrial and Logistics Park) brand," the institution said.

In September, the institution acquired the involvement of Ivanhoe Warehousing India Inc (Ivanhoe) successful the integer infrastructure level entities.

Macrotech Developers has a important beingness successful the lodging segment. Now, it is processing offices, malls and logistics parks to turn its rental income.