Macrotech Developers raises stake in 3 warehousing firms for Rs 239.56 cr

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Macrotech Developers raises stake in 3 warehousing firms for Rs 239.56 cr - Business Standard

Quick Summary:

It has increased its stake in "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), in entirety at a consideration of Rs 239.56 crore, the filing added.

Macrotech Developers has increased its stake in three warehousing companies by buying out shares of Ivanhoe Warehousing India Inc.in these firms for Rs 239.56 crore.

In a regulatory filing, the company said it has executed Securities Purchase Agreements (SPAs) with Ivanhoe Warehousing India Inc in this regard.