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CapitaLand to acquire Ascendas IT Park in Pune for Rs.1,350-Cr

Economic Times  

Singapore-headquartered CapitaLand Investment (CLI) and its joint venture partner Maharashtra Industrial Development Corp (MIDC) are to sell their respective 78.5% and 21.5% shareholding in Ascendas IT Park (Pune) to CapitaLand India Trust for around INR 1,350 crore. Ascendas IT Park owns the International Technology Park in Pune's Hinjewadi (ITPP-H) suburb. ITPP-H is an information technology special economic zone, developed on a 25-acre, 99-year leasehold plot. It has a total floor area of 2.3 million sq ft across four buildings. The facility is close to 100% leased to tenants such as Infosys, Synechron Technologies and Tata Consultancy Services. The sale consideration represents a premium of 9% to CLI's valuation for ITPP-H in December 2021.