Lodha Strengthens Digital Infrastructure Stake with INR 240 Crore Ivanhoe Buyout

Lodha Group, operating under Macrotech Developers, has acquired Ivanhoé Cambridge’s stake in three joint venture entities for ₹239.56 crore. This move is part of Lodha's strategy to boost its annuity income by increasing control over its digital infrastructure investments.

Key Joint Ventures Acquired

The acquisitions involve three entities: Bellissimo Digital Infrastructure Development Management, Palava Induslogic 4, and Bellissimo In City FC Mumbai 1. According to a regulatory filing, the acquisitions are subject to certain closing conditions, with a target completion timeframe of 30 days.

Increased Shareholding Post Acquisition

After the transaction, Lodha's stake in Bellissimo Digital Infrastructure Development Management will increase to 70%, while its holdings in Palava Induslogic 4 and Bellissimo In City FC Mumbai 1 will rise to 66.67% each. This consolidation of shares aligns with Lodha's broader strategy of gaining majority control over its key digital infrastructure entities.

Expanding Digital Infrastructure Capabilities

Bellissimo Digital Infrastructure Development Management, one of the acquired entities, provides a wide array of services, including development management, asset management, property acquisition, and lease management. Incorporated in February 2022, this joint venture was initially formed by Lodha, Ivanhoé, and DSS Opportunities Investment 1. Prior to the acquisition, Lodha held 60% of the shares, Ivanhoé held 10%, and DSS Opportunities Investment 1 had 30%.

Future Growth Outlook

This strategic move enables Lodha to reinforce its position in the digital infrastructure space, furthering its goal of expanding revenue streams and enhancing its portfolio in this critical sector.