CapitaLand India Trust (CLINT) has entered into an agreement to divest CyberVale in Chennai and CyberPearl in Hyderabad to an unrelated third party for INR11,031 million (approximately S$161.7 million/$125.12 million). This marks CLINT’s first divestment since its listing in 2007 and is a key step in its proactive portfolio reconstitution efforts to unlock asset value and strengthen financial agility. The two assets will be divested at approximately 3 percent premium to their independent valuations as at Dec. 31, 2024. The net proceeds from the divestment are expected to be INR10,828 million (approximately S$158.8 million/$122.88 million).
CyberVale comprises an IT Special Economic Zone of approximately 800,000 square feet and a Free Trade Warehousing Zone of approximately 200,000 square feet in Mahindra World City, while CyberPearl is an IT park of approximately 400,000 square feet in HITEC City.
Gauri Shankar Nagabhushanam, CEO of CapitaLand India Trust Management
