Macrotech Developers Acquires Opexefi, One Box for Rs 100 Cr
Aug 29, 2024 14:33
Macrotech Developers has acquired Opexefi Services and One Box Warehouse for nearly Rs 100 crore, boosting its industrial & warehousing park development business. The acquisition is part of the company's strategy to grow its digital infrastructure portfolio.
Photograph: Shailesh Andrade/Reuters
New Delhi, Aug 29 (PTI) Realty firm Macrotech Developers Ltd has acquired a 100 per cent stake in Opexefi Services and One Box Warehouse for nearly Rs 100 crore as part of its strategy to grow the development business of industrial & warehousing parks.
Macrotech Developers Ltd, which sells properties under the Lodha brand, has executed Share Purchase Agreements (SPAs) for the acquisition of a 100 per cent stake in Opexefi Services Pvt Ltd (Opexefi) and One Box Warehouse Pvt Ltd (One Box), according to a regulatory filing on Wednesday.
Opexefi and One Box will become wholly owned subsidiaries of the company, it added.
"This is in pursuance of our planned strategy for calibrated growth in Digital Infrastructure viz. Industrial and Logistics," the company said.
Macrotech Developers acquired Opexefi for Rs 46.67 crore. Opexefi, incorporated on December 6, 2018, is in the business of the development of logistics parks and warehouses. The total turnover for the last 3 years is zero as there are no business operations conducted by Opexefi.
The company has bought One Box for Rs 49.09 crore.
One Box, incorporated on October 06, 2023, too is in the business of development of logistics parks and warehouses. The total turnover for previous years is zero as there are no business operations conducted by One Box.
In May 2022, Macrotech Developers announced a tie-up with Bain Capital and Ivanhoé Cambridge to set up a platform that will invest around USD 1 billion to develop digital infrastructure space, including warehousing and industrial parks across India.
The platform intends to establish a pan-India presence in the digital infrastructure space that includes logistics and light industrial parks as well as in-city fulfilment centres.
Macrotech Developers is one of the leading real estate developers of the country. It sold properties worth more than Rs 14,000 crore in the last fiscal and is targeting for Rs 17,500 crore sales bookings in the 2024-25 financial year.
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