Mahindra Lifespace Developers Invests ₹48.30 Crore in Ample Parks Project 1

Mahindra Lifespace Developers Limited has announced a significant investment in Ample Parks Project 1 Private Limited (formerly known as Interlayer Two Warehousing Private Limited) as part of its ongoing strategic initiatives.

In a stock exchange filing, the company disclosed that it had invested ₹7,99,92,000 towards the acquisition of 79,99,200 equity shares, each with a face value of ₹10. Additionally, Mahindra Lifespace Developers has invested ₹40,31,28,000 to acquire 40,31,280 Unsecured Compulsory Convertible Debentures (CCDs) with a face value of ₹100 each.

This latest investment aligns with the company’s existing holding, ensuring that it maintains a 33% stake in Ample Parks Project 1 Private Limited (Ample 1), an associate entity. The transaction adheres to the terms outlined in the Securities Purchase Agreement (SPA) and Shareholders Agreement (SHA) previously executed with Omega Warehouse Holdings 2 Limited (Omega), an affiliate of Actis, and Ample Parks Project 1 Private Limited and other parties involved.

Ample 1 is engaged in the development of industrial and logistics real estate facilities, as well as warehousing projects, which aligns with the broader objectives of Mahindra Lifespace Developers in the real estate sector. The investment is intended to support the growth and expansion of Ample 1’s industrial and logistics real estate capabilities, which are integral to Mahindra Lifespace’s strategic goals.

The investment follows an initial subscription by Mahindra Lifespace Developers, wherein the company acquired 3,300 equity shares at a premium, totalling ₹72,600, thereby securing a 33% shareholding in Ample 1. The company’s continued investment in Ample 1, as outlined in the SHA and SPA, will be executed in tranches, adhering to a 33:67 ratio, with Mahindra Lifespace Developers maintaining its 33% equity stake while Omega holds the remaining shares.

Overall, this strategic investment underscores Mahindra Lifespace Developers’ commitment to strengthening its presence in the industrial and logistics real estate sector, leveraging its associate Ample 1 to drive growth and operational excellence in this segment.

On August 2, 2024, the share price of Mahindra Lifespace Developers Ltd opened at ₹600.00, touching the day’s high at ₹609.00, as of 10:55 AM on the NSE.

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