Macrotech in Talks with Investors for Industrial Park Funding Platform
Lodha said the company would largely provide assets, including land and ready warehousing space, in the platform while the two partners will bring in equity investments to develop warehousing and light industrial parks. The three partners are likely to have an equal shareholding in the proposed platform, he added. Lodha said the company remained bullish on residential real estate as well as warehousing and industrial segments in view of the rising demand and would continue to expand and grow. Macrotech Developers, one of the leading real estate developers in the country, got listed last year by raising Rs 2,500 crore through its Initial Public Offer (IPO). It also raised Rs 4,000 crore in November through the Qualified Institutional Placement (QIP) route by selling equity shares to institutional investors. Macrotech Developers, erstwhile Lodha Developers, has delivered more than 85 million square feet of real estate and is currently developing around 95 million square feet under its ongoing and planned portfolio. The group has about 4,400 acres of land bank for future development.Macrotech Developers is in an advanced stage of discussion with two global investors to set up a platform that will invest more than USD 1 billion to develop warehousing and industrial parks across India.
Macrotech Developers Managing Director (MD) and Chief Executive Officer (CEO) Abhishek Lodha said: “The talks are in advance stage for setting up a platform for warehousing and industrial parks. We will be hopefully announcing the deal in the next 3-4 weeks. The platform will be investing over USD 1 billion. There will be three partners in the platform, including us and two other global investors,” he said.
Tags : Macrotech Investors Industrial Park Funding Platform Qualified Institutional Placement (QIP) Macrotech Developers Managing Director (MD) and Chief Executive Officer (CEO) Abhishek Lodha