Macrotech Developers Ltd.,[Lodha Group] has announced the acquisition of Bain Capital’s interest in three Digital Infrastructure Platform entities for ₹307 crore in line with its strategy for controlled expansion in industrial and logistics sectors under the Lodha Industrial and Logistics Park (LILP) brand.
The entities include Bellissimo Digital Infrastructure Development Management Pvt. Ltd., Palava Induslogic 4 Pvt. Ltd., and Bellissimo In City FC Mumbai 1 Pvt. Ltd., facilitated through Securities Purchase Agreements (SPAs).
The agreements include acquiring a 30% equity stake in Bellissimo Digital Infrastructure Development Management Pvt. Ltd. for ₹22 crore to be completed within 30 days, a 33.33% equity stake in Palava Induslogic 4 Pvt. Ltd. for ₹189.88 crore, and a 33.33% stake in Bellissimo In City FC Mumbai 1 Pvt. Ltd. for ₹95.12 crore, the company said in a statement.
“Each acquisition is structured as a cash transaction that does not require additional regulatory approvals, with anticipated completion timelines ranging from 30 to 180 days,” the company added.
This acquisition follows Lodha’s recent acquisition of Ivanhoe Warehousing India Inc.’s stake in these entities.
Published – November 07, 2024 11:42 am IST