Transindia Real Estate Limited has announced its intention to divest the Jhajjar Logistics Park in Haryana to global investment firm Blackstone for a sum of Rs 625 crore. This move comes as part of Transindia’s divestment plans following its demerger from Allcargo Logistics.
The divestment strategy also includes the sale of a 10% stake in other parks, which is expected to generate an equity consideration of approximately Rs 60 crore.
Transindia anticipates receiving over Rs 400 crore (after deductions) from these divestments, which will greatly support the company’s future growth initiatives.
However, the proposed divestment is contingent upon finalizing commercial terms between the involved parties and obtaining approval from shareholders, as well as other necessary statutory clearances, according to the company.
Formerly known as Transindia Realty & Logistics Parks Limited, Transindia Real Estate emphasizes that the sale of the logistics park in Jhajjar at an enterprise value of roughly Rs 625 crores will enable the company to realize substantial value from this divestment.
Furthermore, the company will enter into an agreement to divest its 10% stake in several other logistics and industrial parks, including Malur Logistics & Industrial Parks, Venkatapura Logistics & Industrial Parks, Kalina Warehousing, Panvel Warehousing, and Allcargo Logistics & Industrial Park, for an equity consideration of nearly Rs 60 crore.
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Transindia Real Estate Limited’s Founder and Chairman of Allcargo Group, Shashi Kiran Shetty, commented on the significance of these divestments, stating, “The divestment of these companies marks an important milestone for Transindia Real Estate Limited. This transaction aligns with our strategy to build end-to-end capabilities in the real estate business, encompassing development, leasing, and asset sales.”
Jatin Chokshi, Managing Director at Transindia Real Estate Limited, also expressed optimism about the future, stating, “This transaction paves the way for future growth with a strengthened balance sheet that will enable us to undertake new projects and pursue growth opportunities in the real estate sector, particularly in logistics parks.”
With this divestment plan, Transindia Real Estate Limited aims to consolidate its position in the real estate market and capitalize on new ventures in the logistics park domain.
About Transindia Real Estate:
Trans India Group’s primary objective is to strive towards achieving, accomplishing, and excelling in the field of creating and offering homes, encompassing both affordable and high-end options. This goal is driven by the recognition of significant factors such as the continuously growing demand for housing and the substantial disparity between this demand and the supply of affordable homes. Currently, the group is primarily concentrated in the city of Mumbai and its surrounding suburbs, while also aspiring to expand its presence to major cities and towns across India.
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