TVS Emerald Expands Real Estate Portfolio with IT Park Acquisitions

TVS Emerald Ltd, the real estate arm of TVS Holdings Ltd, is set to fully acquire Radial (Phase II) and Radial (Phase III) IT Park Pvt Ltd for over Rs 575 crore. The acquisitions aim to enhance TVS Emerald's market reach and business capabilities, with completion anticipated by December 2024.

TVS Holdings Ltd has announced that its real estate subsidiary, TVS Emerald Ltd, will acquire Radial (Phase II) and Radial (Phase III) IT Park Pvt Ltd. The total investment exceeds Rs 575 crore, marking a strategic expansion in the construction and development sector.

The company will purchase 100 percent of the equity shares and convertible debentures of Radial (Phase II) IT Park Pvt Ltd for Rs 234.33 crore, according to a regulatory filing. Simultaneously, TVS Emerald will acquire a similar stake in Radial (Phase III) IT Park Pvt Ltd, involving a Rs 342 crore transaction.

The acquisitions, slated for completion by December 31, 2024, are anticipated to broaden TVS Emerald's market access and enhance its business portfolio by adding new capabilities and maximizing revenue opportunities.

(With inputs from agencies.)