Mahindra Lifespace Developers has informed that the Company has, on late evening of 5th October, 2022, executed definitive documents to establish joint ventures with Actis, a leading global investor in sustainable infrastructure, for developing industrial and logistics real estate facilities across India. Subject to requisite approvals and finalisation of other definitive documents, the Company or its Affiliates and Actis or its Affiliates will jointly invest in Asset Owning SPVs and in an entity that will provide business services to the Asset Owning SPVs. The Company or its Affiliates may own stakes in the range of 26% to 40% in these entities, and the balance will be owned by Actis or its Affiliates. Subject to requisite approvals, both Partners have earmarked upto 100 acres of land across the Mahindra World Cities as seed assets to be acquired by the Asset Owning SPVs during the course of arrangement. In addition, the Partners plan to expand the business by acquiring and developing greenfield and brownfield projects across India. A press release is enclosed. Actis is a third-party who does not belong to the Promoter/ Promoter Group/Group companies and presently, the arrangement does not fall under the ambit of Related Party Transactions.
The above information is a part of company’s filings submitted to BSE.
