Macrotech Developers, a real estate firm, has bought Bain Capital's investment in three industrial and logistics park entities for Rs 307 crore as part of a rental income strategy. Macrotech Developers is a top real estate firm in the country. It sells properties under the Lodha brand.
In a regulatory filing on Thursday, the company informed that it has "signed Securities Purchase Agreements (SPAs) with DSS Opportunities Investment 1 (Bain Capital) and India Opportunities Fund SSA Scheme 1 to acquire their total stake in the digital infrastructure platform companies (Bellissimo In City FC Mumbai 1 Pvt Ltd, Palava Induslogic 4 Pvt Ltd, and Bellissimo Digital Infrastructure Development Management Pvt Ltd) for a sum of Rs 307 crore."
Bellissimo Digital Infrastructure Development Management Pvt Ltd was owned by Bain Capital to the tune of 30%, while the other two companies were owned by the company to the tune of 33.33 percent each. This is consistent with the company's goal of increasing its annuity income over time.
"This is in pursuance of our planned strategy for calibrated growth in our annuity income through digital infrastructure viz. industrial and logistics under the LILP (Lodha Industrial and Logistics Park) brand," according to the organization.
In September, the business purchased Ivanhoe Warehousing India Inc (Ivanhoe)'s stake in the digital infrastructure platform entities. Macrotech Developers has a substantial position in the housing market. It is currently creating offices, malls, and logistics parks to increase its rental income.
