Macrotech acquires Opexefi Services and One Box Warehouse for nearly Rs 100 crore
The company has acquired One Box for Rs 49.09 crore.
Real estate company Macrotech Developers Ltd has acquired 100 percent stake in Opexefi Services and One Box Warehouse for nearly Rs 100 crore as part of its strategy to expand its industrial and warehousing park development activities.
Macrotech Developers Ltd, which sells real estate under the Lodha brand, has entered into Share Purchase Agreements (SPAs) for acquisition of 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 line with our planned strategy for calibrated growth in digital infrastructure, namely Industrial and Logistics,” the company said.
Macrotech Developers has acquired Opexefi for Rs 46.67 crore. Opexefi, incorporated on December 6, 2018, is engaged in the development of logistics parks and warehouses. The total turnover for the last 3 years is nil as there is no business activity being carried out by Opexefi.
The company has acquired One Box for Rs 49.09 crore.
One Box, established on October 6, 2023, is also engaged in the development of logistics parks and warehouses. The total turnover of previous years is zero, as there is no business activity carried out by One Box.
In May 2022, Macrotech Developers announced a partnership with Bain Capital and Ivanho Cambridge to set up a platform that will invest approximately $1 billion in developing digital infrastructure, including warehousing and industrial parks across India.
The platform aims to create a pan-India presence in digital infrastructure, including logistics and light industrial parks, as well as distribution centres in cities.
Macrotech Developers is one of the country’s leading real estate developers. It sold properties worth over Rs 14,000 crore in the last fiscal and is targeting Rs 17,500 crore in sales bookings in fiscal 2024-25.
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First publication: Aug 29, 2024 | 4:21 PM IST