Macrotech Acquires Full Stake in Digital Infra Firms for ₹307 Crore

11 Nov 2024 , 12:09 PM

Macrotech Developers Ltd to acquire three digital infrastructure entities for ₹307 Crore. The entities to be acquired include Bellissimo Digital Infrastructure Development Management, Palava Induslogic 4, and Bellissimo In City FC Mumbai 1.

Macrotech signed Securities Purchase Agreements (SPAs) with India Opportunities Fund SSA Scheme 1 and DSS Opportunities Investment 1, managed by Bain Capital, for this acquisition. The deal, expected to close within 30 days, is part of Macrotech’s strategy to expand in the industrial and logistics sector under its Lodha Industrial and Logistics Park (LILP) brand.

In September 2024, Macrotech also acquired Ivanhoe Warehousing India Inc.’s stake in these entities, gaining majority control after obtaining Ivanhoe’s shares in October. As part of this transaction, Macrotech will acquire an additional 30% equity in Bellissimo Digital Infrastructure from Bain Capital for ₹22 Crore, securing full ownership of the entity.

Established in February 2022, Bellissimo Digital Infrastructure provides development, asset management, property acquisition, and lease management for digital infrastructure projects, reporting ₹55.53 Crore in revenue for FY24. The acquisition strengthens Macrotech’s annuity-based income streams, adding stability to revenue through digital infrastructure.