Lodha Boosts Stake in Digital Infrastructure Assets with INR 307 Cr Buyout from Bain Capital

Strategic Stake Buyout to Fuel Growth in Digital Infrastructure

In a strategic move to strengthen its income from logistics and industrial parks, real estate developer Lodha, publicly known as Macrotech Developers, has decided to acquire Bain Capital’s stake in three joint digital infrastructure platform entities for a total of ₹307 crore.

New Partnerships Strengthen Lodha’s Industrial Footprint

Macrotech Developers reportedly signed securities purchase agreements with Bain Capital’s India Opportunities Fund SSA Scheme 1 and DSS Opportunities Investment 1, securing their stake in Bellissimo Digital Infrastructure Development Management, Palava Induslogic 4, and Bellissimo In City FC Mumbai 1. The move aligns with Lodha’s September decision to acquire Ivanhoe Warehousing India’s stake in these platforms for ₹239.56 crore.

Expanding Lodha’s Digital Infrastructure through Annuity Income

Sources close to Lodha have indicated that acquiring full ownership of these assets will help the company increase annuity income under its Lodha Industrial and Logistics Park brand, focusing on digital infrastructure.

Digital Infrastructure and Pan-India Reach

In May 2022, Lodha formed a partnership with Bain Capital and Ivanhoé Cambridge to build a green digital infrastructure platform with an eye on pan-India logistics, light industrial parks, and in-city fulfillment centers. Each of the three partners initially held a 33% equity interest while Lodha led the development, operations, and management of the assets. With this acquisition, Macrotech will now hold full ownership.

Transaction Details and Expected Completion

The finalized agreements reveal that Macrotech will acquire Bain Capital’s 30% stake in Bellissimo Digital for ₹22 crore, a 33.33% stake in Palava Induslogic 4 for ₹189.8 crore, and another 33.33% in Bellissimo In City FC Mumbai 1 for ₹95.1 crore.

The acquisition of Bellissimo Digital Infrastructure, which offers services like development management, asset management, and lease management, is expected to close within the next 30 days.