Tata Realty acquires entire equity stake held by Actis in IT4

Tata Realty & Infrastructure Ltd. (TRIL) has acquired the entire equity stake held by Actis TREIT Holdings No. 2 (Singapore) (Actis TREIT 2) and 416 listed NCDs held by Actis TREIT Holdings No. 1 (Singapore) in TRIL IT4 Private Limited, now called Intellion Square, Goregaon, Mumbai (TRIL IT4) in an all-cash deal.

A Securities Purchase Agreement was executed between all the parties, said a press release.

TRIL IT4 is part of a joint venture between Tata Realty and Actis that invests in and develops new-generation offices in established commercial markets across major cities in the country.

Post the transaction, TRIL now owns 100 per cent stake in TRIL IT4, which owns and operates an IT building in Malad, Mumbai.

On successful closure of the transaction, Sanjay Dutt, MD & CEO, TRIL, said, “We remain steadfast in our commitment to strengthen our commercial portfolio. This transaction is a testament to our confidence in the Indian commercial real estate sector. This deal is in line with our endeavour and expansion strategy for our commercial portfolio.”

About the partnership, Dutt said, “TRIL & Actis have a longstanding platform-level partnership with investments across multiple assets and it has been a mutually enriching experience. With this successful exit, TRIL has demonstrated its capability to create shareholder value for pre-eminent investor partners.”