Mahindra Lifespace Acquires 26% Stake in Ample Parks MMR

24 Oct 2024 , 01:53 PM

Mahindra Lifespace Developers Ltd has executed a Securities Purchase Agreement (SPA) with shareholders of Ample Parks MMR Private Limited (APMPL) to acquire a 26% stake.

The acquisition is part of Mahindra Lifespaces’ collaboration with Actis, a global investor in sustainable infrastructure, expanding its industrial real estate portfolio.

The acquisition was formalized through an SPA with APMPL’s shareholders and a Shareholders Agreement (SHA) with Omega Warehouse Holdings 2 Ltd, an affiliate of Actis.

Mahindra Lifespace acquired 5,200 equity shares of APMPL at a face value of ₹10 each with a ₹1.40 premium per share, totaling ₹59,280 for the 26% stake.

Omega retains the remaining 74% stake in APMPL, and Mahindra Lifespace has committed to investing up to ₹20.05 Crore over the next three years. The total investment for APMPL stands at ₹77.10 Crore, with Mahindra Lifespace and Omega funding the amount in a 26:74 ratio.

This collaboration aims to address the rising demand for industrial and logistics facilities in India, fueled by the booming e-commerce and manufacturing sectors. APMPL, incorporated in June 2023, focuses on acquiring and managing logistics, industrial, and warehousing facilities across India.