M&A

M&A

Macrotech Developers acquires 50% stake in Siddhivinayak Realties for Rs.251-Cr

BSE Announcement  

Publicly listed realty firm Macrotech Developers Ltd, which sells properties under Lodha brand, has acquired 50% of the paid-up capital of fellow Mumbai-based Siddhivinayak Realties Pvt Ltd (SRPL) for INR 250.72 crore in cash.SRPL has rights in various lands, including to develop the free sale portion of SRA project in Mumbai city. The company has not reported any revenues yet.