Pursuant to the transaction documents, Blackstone will make an investment in the company's subsidiaries through a combination of equity and debentures upto Rs.380 crore (Transaction). The partnership between Blackstone and the Company proposes to make further investment in the future to develop industrial and logistics parks across certain key markets of India.
The Transaction is expected to conclude in a phase wise manner over the next 12 months, subject to satisfaction of customary closing conditions and achievement of certain milestones as prescribed in the transaction documents which will be executed by and among Blackstone, the Company and certain subsidiaries of the Company for carrying out the business of warehousing.
Post conclusion of the Transaction, the Company will cease to have sole control over certain subsidiaries engaged in the warehousing business, and will retain a minority stake in such subsidiaries.
