Macrotech’s Bain Capital Stake Acquisition For Foraying In I&L Sector

Macrotech Developers Ltd., a leading player in the real estate sector, has announced the strategic acquisition of its Digital Infrastructure Platform, in line with its objective of controlled expansion in the industrial and logistics sectors under the Lodha Industrial and Logistics Park (LILP) brand.

This acquisition involves purchasing Bain Capital's interests in three Digital Infrastructure Platform entities: Bellissimo Digital Infrastructure Development Management Pvt. Ltd., Palava Induslogic 4 Pvt. Ltd., and Bellissimo In City FC Mumbai 1 Pvt. Ltd., facilitated through Securities Purchase Agreements (SPAs).

The total consideration for this acquisition is approximately Rs 307 crore. The agreement includes acquiring a 30% equity stake in Bellissimo Digital Infrastructure Development Management Pvt. Ltd. for Rs 22 crore to be completed within 30 days, a 33.33% equity stake in Palava Induslogic 4 Pvt. Ltd. for Rs 189.88 crore, and a 33.33% stake in Bellissimo In City FC Mumbai 1 Pvt. Ltd. for Rs 95.12 crore. Each acquisition is structured as a cash transaction that does not require additional regulatory approvals, with anticipated completion timelines ranging from 30 to 180 days.

This acquisition follows Lodha’s recent acquisition of Ivanhoe Warehousing India Inc.’s stake in these entities, reinforcing the company’s dedication to enhancing annuity income streams within the digital infrastructure sector.