Ramanujan Net Zero IT Park (Infopark Properties Limited)

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Tata Realty and Infrastructure Limited (TRIL) (https://tatarealty.in/) incorporated in 2007, is a wholly owned subsidiary of Tata Sons Private Limited and is part of the Tata Group (https://www.tata.com/). TRIL is in the business of developing commercial real estate and infrastructure development in India. Under TRILs real estate development vertical, Ramanujan Information Technology City (RITC, now renamed as Ramanujan Intellion Park) in Chennai was the first/ flagship Information Technology (IT) Special Economic Zone (SEZ) project taken up for development in 2009. Ramanujan Intellion Park was developed through a joint venture between TRIL, Indian Hotels Company Limited (IHCL) and Tamil Nadu Industrial Development Corporation (TIDCO) – a state government entity. TRIL Infopark Limited (TPL) was established as a special purpose vehicle to execute the Project Asset in 2008. In 2021, TRIL established Infopark Properties Limited (“IPL” or the Company) and later, merged TPL (Project entity) into IPL (Holding entity) in June 2023 thus bringing the ownership of Ramanujan Intellion Park to IPL. The proposed investment is a senior secured loan of up to INR 8,350 mn (approx. US$100 mn equivalent) to be provided towards Infopark Properties Limited (“IPL” or the “Company”) for refinancing of outstanding debt of the Ramanujan Intellion Park (“Project Asset”) (the “Project”). Ramanujan Intellion Park is a fully developed and operational IT Park SEZ project on a land parcel of 25.27 acres located at Taramani in Chennai along Old Mahabalipuram Road (IT Expressway). Project Asset consists of SEZ processing zone and a non-processing zone. Project Asset has a high occupancy rate ranging from 40,000 to 60,000 people working across the six IT Park buildings besides the 112 serviced apartments and convention center in the non-processing zone. The SEZ processing zone area has been developed with a total leasable area of ~4.67 million sqft of IT/ITES office space spread over 6 building blocks. Each building configuration comprise of 3 basement + ground + stilt + amenities + 12 Floors. The non-processing zone has “Taj Wellington Mews Hotel” facility that comprise of 112 serviced apartments and convention Center operated by Taj Hotels (https://www.tajhotels.com/) which is a chain of luxury hotels and a subsidiary of IHCL.