Transindia Real Estate Limited has disclosed its intention to sell off some of its business operations and its subsidiary to investment funds managed or advised by Blackstone, a leading international investment company. The divestment pertains to the disposal of a logistics park located in Jhajjar as well as a 10 percent equity stake that is currently owned in several other parks. This deal will generate substantial cash profits and support the expansion goals of Transindia Real Estate Limited.
Transindia Real Estate Limited has disclosed its intention to sell off some of its business operations and its subsidiary to investment funds managed or advised by Blackstone, a leading international investment company. The divestment pertains to the disposal of a logistics park located in Jhajjar as well as a 10 percent equity stake that is currently owned in several other parks.
This deal will generate substantial cash profits and support the expansion goals of Transindia Real Estate Limited (previously called Transindia Realty & Logistics Parks Limited). The organization has established comprehensive expertise in creating and renting out storage facilities and logistic centres and has fabricated multiple distinguished assets in this realm.
Transindia Real Estate Limited will obtain significant value from the sale of the logistics park in Jhajjar, which is expected to yield an enterprise value of around Rs 625 crore. In addition, the firm plans to sell its 10 percent ownership in Malur Logistics & Industrial Parks Pvt. Ltd., Venkatapura Logistics & Industrial Parks Pvt. Ltd., Kalina Warehousing Pvt. Ltd., Panvel Warehousing Pvt. Ltd., and Allcargo Logistics & Industrial Park Pvt. Ltd. for approximately Rs 60 crore.
Transindia Real Estate Limited is set to receive more than Rs 400 crore due to the divestments. This input of funds will aid the expansion goals of Transindia, enrich its monetary abilities, and facilitate the pursuit of advantageous investments in nascent prospects. Previously, the firm had revealed their plans to sell off their equipment division in order to align with their long-term strategy and concentrate solely on their real estate operations.
The sale of these companies is a significant achievement for Transindia Real Estate Limited, according to Shashi Kiran Shetty, founder and chairman of Allcargo Group.
Jatin Chokshi, the MD of Transindia Real Estate Limited, expressed that this deal lays the foundation for upcoming expansion by providing stability to the balance sheet, which enables the execution of fresh ventures and promotes progress in other significant real estate avenues, particularly in logistics parks.
The potential sale is contingent upon the negotiation of commercial agreements among the involved parties, as well as obtaining approval from shareholders and meeting all relevant legal requirements. Additional information will be disclosed to stakeholders after the completion of the transaction and the signing of the final transaction documents.
Transindia Realty & Logistics Parks Ltd. is a publicly held company that is not listed on any stock exchange and was established on December 3rd, 2021. Located in Maharashtra's Mumbai City, it is categorized as a public limited company. The approved amount of capital for this company is Rs 55 crore, while the overall amount of capital that has been paid up is Rs 49.14 crore.
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