In a significant move to enhance its presence in the industrial and logistics sectors, Macrotech Developers has announced that it will acquire Ivanhoe Warehousing India’s stake in three different entities for a total deal value of Rs 239.56 crore. The company confirmed the news through a filing with the stock exchanges, stating that Securities Purchase Agreements (SPAs) have already been signed for the acquisition.
Three Companies Involved in the Deal
Macrotech Developers will buy stakes in the following three companies:
- Bellissimo Digital Infrastructure Development Management Private Limited
- Palava Induslogic 4 Private Limited
- Bellissimo In City FC Mumbai 1 Private Limited
These companies play a key role in the digital infrastructure and logistics sectors, aligning with Macrotech’s long-term strategy to boost its growth in these areas.
Increase in Stake After the Deal
Once the deal is finalized, Macrotech Developers’ stake in Bellissimo Digital Infrastructure Development Management Pvt Ltd will rise from 60% to 70%. This entity is a joint venture between Macrotech, Ivanhoe, and DSS Opportunities Investment 1, where Ivanhoe currently holds 10% and DSS holds the remaining 30%.
For the other two firms, Palava Induslogic 4 Private Limited and Bellissimo In City FC Mumbai 1 Private Limited, Macrotech’s stake will increase to 66.67% after the transaction is completed.
Strategic Move to Boost Revenue
Macrotech Developers sees this acquisition as a strategic move aimed at expanding its digital infrastructure portfolio. The company has expressed that this deal is part of its broader goal to strengthen its presence in industrial and logistics sectors, which will further support its revenue growth.
Market Reaction and Current Status
Despite this announcement, shares of Macrotech Developers saw a decline on September 19, following a strong performance in the past year where the stock surged by 65%. The company’s market capitalization stands at over Rs 1.27 lakh crore.
The deal is expected to close within 30 days and will include a cash payment of Rs 14.77 crore for the 10% equity stake owned by Ivanhoe.
