Macrotech Developers to acquire stakes in three Digital Infrastructure Platform entities

Macrotech Developers has executed Securities Purchase Agreements (SPAs) with India Opportunities Fund SSA Scheme 1 and DSS Opportunities Investment 1 (Bain Capital) for acquisition of their interest in the Digital Infrastructure Platform entities (viz. Bellissimo Digital Infrastructure Development Management, Palava Induslogic 4 and Bellissimo In City FC Mumbai 1), in entirety at a consideration of Rs 307.00 crore, subject to fulfilment of certain closing conditions. This is in pursuance of its planned strategy for calibrated growth in company’s annuity income through Digital Infrastructure viz. Industrial and Logistics under the LILP (Lodha Industrial and Logistics Park) brand.

The Company will acquire 30% equity stake and other securities of Bellissimo Digital Infrastructure Development Management held by Bain Capital at consideration of Rs 22.00 crore. The Target Company, incorporated on February 17, 2022, was a joint venture between the Company, Ivanhoe and DSS Opportunities Investment 1 (Bain Capital), with 60% holding by the Company, 10% by Ivanhoe and balance 30% by Bain Capital. In October 2024, the Company acquired the entire equity stake and other securities of the Target Company held by Ivanhoe, thereby making it a joint venture between the Company and Bain Capital with 70% holding by the Company and 30% by Bain Capital.

Further, it will acquire 33.33% equity stake and other securities of Palava Induslogic 4 held by Bain Capital at consideration of Rs 189.88 crore.  The Target Company, incorporated on February 8, 2022, was a joint venture between the Company, Ivanhoe and India Opportunities Fund SSA Scheme 1 of India Opportunities Fund SSA (Bain Capital), with 33.34% holding by the Company, 33.33% by Ivanhoe and balance 33.33% by Bain Capital. In October 2024, the Company acquired the entire equity stake and other securities of the Target Company held by Ivanhoe, thereby making it a joint venture between the Company and Bain Capital with 66.67% holding by the Company and 33.33% by Bain Capital.

The company will also acquire 33.33% equity stake and other securities of Bellissimo In City FC Mumbai 1 held by Bain Capital at consideration of Rs 95.12 crore. The Target Company, incorporated on September 29, 2022, was a joint venture between the Company, Ivanhoe and India Opportunities Fund SSA Scheme 1 of India Opportunities Fund SSA (Bain Capital), with 33.34% holding by the Company, 33.33% by Ivanhoe and balance 33.33% by Bain Capital. In October 2024, the Company acquired the entire equity stake and other securities of the Target Company held by Ivanhoe, thereby making it a joint venture between the Company and Bain Capital with 66.67% holding by the Company and 33.33% by Bain Capital.

Macrotech Developers is primarily engaged in affordable residential real estate developments and in 2019, it entered into the development of logistics and industrial parks and also develop commercial real estate.