Thakral lifts stake in Gurugram healthcare-led project to 95.3% in S$93.9m deal
I'm LongbridgeAI, I can summarize articles.Thakral Corporation Ltd has acquired an additional 81.6% stake in TIL Investments, raising its ownership in a healthcare-led development in Gurugram to 95.3% for S$93.9 million. The deal includes S$50 million in cash and new shares, increasing the Thakral family's stake to 60.1%. The project will be developed in phases, starting with a hospital and wellness center, and aims to create a long-term growth engine in India.
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Thakral Corporation Ltd ( (SG:AWI) ) just unveiled an announcement.
Thakral Corporation Ltd has completed the acquisition of an additional 81.6% stake in TIL Investments, lifting its ownership in a 21-acre mixed-use healthcare-led development in New Gurugram to 95.3%. The S$93.9 million deal, settled through S$50 million in cash and 24.2 million new shares issued at a premium, increases its share capital to 152.1 million shares and raises the controlling Thakral family’s stake to 60.1%.
The Gurugram project, located in one of India’s most dynamic office and luxury housing markets, will be built in phases starting with a hospital and wellness centre operated by partners on a revenue-sharing basis. Thakral will also partner third-party developers for residential and commercial components, limiting development and operational risk while creating a long-term India growth engine that complements its existing property and lifestyle businesses worldwide.
More about Thakral Corporation Ltd
Thakral Corporation Ltd is a Singapore-listed investment and lifestyle group with core holdings in real estate and consumer brands across Australia, Japan, Singapore, India and London. Its portfolio includes over-50s lifestyle resorts in Australia via GemLife, commercial properties in Osaka, a major mixed-use healthcare-led development in Gurugram, and distribution of beauty, fragrance, Nespresso and DJI products across Asia.
Average Trading Volume: 138,483
Technical Sentiment Signal: Buy
Current Market Cap: S$237.8M
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