Brigade Enterprises Limited has informed the Exchange about Agreement For Acquisition Of Equity Shares And Optionally Convertible Redeemable Preference Shares By Brigade Enterprises Limited And Equity Shares And Optionally Convertible Debentures By GSS India Opportunities AIF Scheme I

Brigade Enterprises has signed a Securityholders Agreement and Securities Subscription Agreement with GSS India Opportunities AIF Scheme I, a SEBI-registered Category II fund advised by Bain Capital Advisors (India), to jointly develop a project through Vibrancy Real Estates Private Limited (VREPL), currently Brigade's wholly-owned subsidiary. VREPL holds 11.04 acres of prime land in Whitefield, Bangalore, planned for an integrated mixed-use development of about 2 million sq ft comprising Grade A office space and a 5-star hotel. Brigade will subscribe to 25,31,706 equity shares and 10,00,000 optionally convertible redeemable preference shares, while the Bain-advised fund will subscribe to 35,31,706 equity shares and 11,200 optionally convertible debentures. After the transaction, VREPL will be held 50:50 between Brigade and the investor. The deal is a related-party transaction done at arm's length, with cash consideration and allotment expected within about a week.