Macrotech Developers gains on executing SPAs to acquire 100% stake in Opexefi, One Box
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Macrotech Developers is currently trading at Rs. 1258.20, up by 6.90 points or 0.55% from its previous closing of Rs. 1251.30 on the BSE.
The scrip opened at Rs. 1271.70 and has touched a high and low of Rs. 1271.70 and Rs. 1251.00 respectively. So far 2240 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1648.00 on 18-Jun-2024 and a 52 week low of Rs. 664.00 on 1-Sep-2023.
Last one week high and low of the scrip stood at Rs. 1286.00 and Rs. 1144.05 respectively. The current market cap of the company is Rs. 124531.05 crore.
The promoters holding in the company stood at 72.13%, while Institutions and Non-Institutions held 27.15% and 0.73% respectively.
Macrotech Developers has executed Share Purchase Agreements (SPAs) for acquisition of 100% stake in Opexefi Services (Opexefi) and One Box Warehouse (One Box), pursuant to which Opexefi and One Box will become wholly owned subsidiaries of the company. This is in pursuance of its planned strategy for calibrated growth in Digital Infrastructure viz. Industrial and Logistics.
The acquisition is to be completed within 45 days. Opexefi and One Box are in the business of development of logistics parks and warehouses.
Macrotech Developers is primarily engaged in affordable residential real estate developments and in 2019, it entered into the development of logistics and industrial parks and also develop commercial real estate.
