Shares of Macrotech Developers Ltd. are trading flat after reaching a day’s high of Rs 1,320.95 on 19th September, following the company’s announcement that it plans to acquire Ivanhoe Warehousing India Inc.’s stake in three entities for Rs 239.56 crore.

On 19th September, the company filed with the stock exchange, announcing it had signed SPAs to acquire Ivanhoe Warehousing India Inc.’s interests in three digital infrastructure companies.

Post-acquisition, Macrotech Developers’ stake in Bellissimo Digital Infrastructure Development Management Pvt. Ltd. will rise to 70%, and its shareholding in Palava Induslogic 4 Pvt. Ltd. and Bellissimo In City FC Mumbai 1 Pvt. Ltd. will increase to 66.67% in both companies.

The total acquisition will cost Rs 239.56 crore, including a cash payment of Rs 14.77 crore for a 10% equity stake and other securities from Ivanhoe.

Bellissimo Digital Infrastructure Development Management Pvt. Ltd., a joint venture established on 17th February 2022, currently has Macrotech owning 60%, Ivanhoe 10%, and DSS Opportunities Investment 1 30%.

On 28th August, Macrotech signed SPAs to acquire 100% ownership of Opexefi Services Pvt. Ltd. and One Box Warehouse Pvt. Ltd., making them wholly owned subsidiaries.

This acquisition supports Macrotech’s strategy for controlled growth in digital infrastructure, particularly in the industrial and logistics sectors.

At 1:32 PM, the shares of Macrotech Developers were trading 0.67% lower at Rs 1,279.80 on NSE.

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