Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we wish to inform you that, in line with the Company’s objective of gradually growing its annuity income, the Company has executed Securities Purchase Agreements (“SPAs”) with Ivanhoe Warehousing India Inc. (“Ivanhoe”) for acquisition of their interest in the Digital Infrastructure Platform entities (viz. Bellissimo Digital Infrastructure Development Management Private Limited, Palava Induslogic 4 Private Limited and Bellissimo In City FC Mumbai 1 Private Limited), in entirety at a consideration of Rs 239.56 crore, subject to fulfilment of certain closing conditions.
The Company’s interest posts the above acquisition in Bellissimo Digital Infrastructure Development Management Private Limited, Palava Induslogic 4 Private Limited and Bellissimo In City FC Mumbai 1 Private Limited would increase to 70%, 66.67% and 66.67% respectively. The details as required under SEBI Listing Regulations read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated July 13, 2023 are given in Annexures to this letter.
