The transaction, completed on a slump sale basis, involves the transfer of the entire Kolkata Tech Park property, situated in Kolkata, on an “as is, where is” basis. Kolkata Tech Park, one of the largest IT parks in eastern India, spans a gross leasable area of 1.49 million square feet. The property is LEED Platinum certified by the US Green Building Council and is home to several global technology leaders.
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Sriram Khattar, Vice Chairman and MD of DLF Rental Business said, “This is reflective of the value embedded in our core assets created over the years with good quality tenant partners and asset management. It also demonstrates our commitment to continuously enhance shareholder value.”
Sidharth Pansari, Managing Director of Primarc Group and President of CREDAI Bengal Said, “We are excited about this transaction which is a pivotal step in our growth and diversification journey. It strengthens our contribution to Bengal’s tech ecosystem, and we will benefit immensely from DLF’s learnings, systems and processes.”
JLL was the sole transaction advisor. Shardul Amarchand Mangaldas & Co and PwC were the legal and financial advisors respectively to DLF. Shares of DLF Ltd ended at ₹822.80, up by ₹8.55, or 1.05% on the BSE.
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