Macrotech Developers has made a strategic move by acquiring Ivanhoe Warehousing India Inc.'s stake in three digital infrastructure companies. The ₹239.56 crore transaction will increase Macrotech's shareholding in Bellissimo Digital Infrastructure Development Management Pvt Ltd, Palava Induslogic 4 Pvt Ltd, and Bellissimo In City FC Mumbai 1 Pvt Ltd to 70 per cent, 66.67 per cent, and 66.67 per cent, respectively.
This acquisition supports Macrotech's growth strategy, especially in the industrial and logistics sectors. It is aimed at boosting the company's annuity income while seizing opportunities in the digital infrastructure space. With no regulatory approvals required, the deal is set to be finalised within 30 days, creating the potential for those looking to buy shares online.
Stock rises following acquisition announcement
Following the news of the acquisition, Macrotech Developers' stock saw a 2 per cent rise, trading at ₹1,317.55 on September 19. The company has been on a solid growth trajectory, with its stock surging 66 per cent in the past year, outperforming Nifty's 27 per cent rise.
Investors eyeing the company's performance may find this an ideal time to buy shares online. Macrotech's growth in digital infrastructure, along with positive market sentiments, suggests strong future potential. Analysts at Nomura have also rated the stock a must-buy with a target price of ₹1,600, citing robust earnings visibility and pre-sales growth.
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