Macrotech to acquire 3 JV projects from Bain Capital

7 Nov 2024 , 11:58 AM

For Rs 307 crore, real estate developer Lodha, who is listed as Macrotech Developers, has agreed to buy Bain Capital’s share in its three distinct joint ventures under the Digital Infrastructure Platform.

Bellissimo In City FC Mumbai 1, Palava Induslogic 4, and Bellissimo Digital Infrastructure Development Management are some of these organisations. Macrotech Developers has signed Securities Purchase Agreements (SPAs) with DSS Opportunities Investment 1 and SSA Scheme 1 of Bain Capital’s India Opportunities Fund.

This follows the company’s September decision to pay Rs 239.56 crore to buy Ivanhoe Warehousing India Inc.’s stake in these Digital Infrastructure Platform companies.

Under the LILP (Lodha Industrial and Logistics Park) moniker, the corporation claims that this action is in line with its intended strategy for controlled increase in annuity income through digital infrastructure, which includes industrial and logistics.

Macrotech Developers partnered with Bain Capital and Ivanhoé Cambridge in May 2022 to create this platform for green digital infrastructure. The platform was created with the intention of creating a digital infrastructure presence throughout India, encompassing in-city fulfilment centres, logistics parks, and light industrial parks.

Lodha oversaw the development, management, and operations of the assets, while each of these three partners owned about a third of the property. Macrotech will own all of these companies thanks to the most recent share purchase agreements.

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