Group works on strategy of identifying attractive opportunities
Singapore-based Thakral Corporation Ltd said on 23 Jan its wholly-owned subsidiary, Paramount Investments Pte Ltd (PIPL), has entered into an agreement to acquire an additional 81.64% stake in TIL Investments Private Limited which has a real estate and healthcare project under development in Gurugram within New Delhi’s National Capital Region (NCR).
TIL, which had acquired a 13.64% stake in December 2024, is acquiring the additional stake for an aggregate consideration of S$93.9 million from Thakral Investments Holdings (Mauritius) Limited (Thakral Mauritius) and certain members of the Thakral family.
The proposed acquisition, which is subject to shareholders’ approval, will increase Thakral’s equity stake in TIL, through PIPL, to 95.28% on completion of the agreed acquisition. The remaining 4.72% interest in TIL is held by Platinum Healthcare (Pte) Limited, a Singapore-registered company.
The aggregate consideration for the proposed acquisition comprises a mixture of cash and issuance of new shares of Thakral — S$50 million in cash and S$43.9 million via the issuance of ~24.22 million new ordinary shares of Thakral to Thakral Mauritius at an issue price of S$1.8128 per share, representing a 10% premium to the volume-weighted average price of the preceding 20 market days, and approximately 16.17% of the enlarged issued and paid-up share capital of Thakral.
Thakral Mauritius is a wholly-owned subsidiary of Thakral Group Limited (TGL), which is the largest shareholder of the Group, holding 52.34% currently. Upon completion of the proposed acquisition, TGL will hold an overall shareholding interest of 60.05% (including through Thakral Mauritius) in the Group.
India’s growth is supported by strong tailwinds, with GDP projected to surpass US$7.30 trillion by 2030. The projected GDP growth is led by growing urbanization and rising income levels, fuelling demand for quality healthcare, residential and commercial solutions, noted the Singapore-listed Indian-origin group.
“This investment aligns with our strategy of identifying attractive real estate opportunities and high-growth sectors, said Inderbethal Singh Thakral, CEO and Executive Director of Thakral.
“The acquisition marks a significant step in our next phase of growth, as we capitalise on the fast-growing Indian market through a well-planned project designed to create long-term value for our shareholders. Building on our strong track record of unlocking value for investors and our legacy in real estate, we are well-positioned to execute this opportunity and drive returns for all stakeholders,” he said.
Thakral Corporation’s core business comprises a growing investment portfolio in Australia, Japan and Singapore. Additionally, the Group is the exclusive distributor of DJI drones, drone accessories and audio-visual equipment in 7 countries in South Asia, including India. The Group is also expanding its presence in agriculture and enterprise drones in India, through its investee companies and subsidiaries. fiinews.com
