 "mumbai, real estate, commercial building")
Macrotech Developers has increased its stake in three warehousing companies by buying out shares of Ivanhoe Warehousing India Inc. in these firms for Rs 239.56 crore.
The share acquisition in the three firms would help Macrotech Developers in increasing its rental income.
In a regulatory filing, the company said it has executed Securities Purchase Agreements (SPAs) with Ivanhoe Warehousing India Inc in this regard.
It has increased its stake in "Digital Infrastructure Platform entities (Bellissimo Digital Infrastructure Development Management Pvt Ltd, Palava Induslogic 4 Pvt Ltd and Bellissimo In City FC Mumbai 1 Pvt Ltd), in entirety at a consideration of Rs 239.56 crore, the filing added.
The company's interest post the above acquisition in Bellissimo Digital Infrastructure Development Management Pvt Ltd, Palava Induslogic 4 Pvt Ltd and Bellissimo In City FC Mumbai 1 Pvt Ltd would increase to 70 per cent, 66.67 per cent and 66.67 per cent, respectively, it added.
Macrotech Developers is one of the leading real estate firms in the country. It sells properties under the Lodha brand.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
 "TCS, Tata Consultancy Services")
 "Harsh Goenka, RPG Enterprises Chairman")
 "Supreme Court, SC")
 "steel")
 "Information technology major Tata Consultancy Services (TCS) on Friday termed the tax demand notices received by several of its employees a “discrepancy,” and the tax department will be reprocessing the returns.")
