New Delhi: Realty company Godrej residences has acquired a 49 consistent with cent stake in its subsidiary happy Highrises from Karelides buyers for Rs 248.50 crore.
Godrej houses in advance had a fifty one in keeping with cent stake in happy Highrises.
put up-acquisition, it has improved its shareholding to 100 according to cent by using acquiring theremaining forty nine consistent with cent stake.
“The agency has purchased ninety nine,528 fairness stocks of Rs 10 every of satisfied Highrises Ltd, a subsidiary of the employer, from Karelides traders Pvt Ltd. therefore, satisfied Highrises Ltd has come to be a completely-owned subsidiary of the enterprise,” Godrej residences stated in a filing to the BSE.
Karelides traders turned into a strategic investor in satisfied Highrises, that is growing a actual estateundertaking in Kolkata.
The value of the acquisition of shares is Rs 248.50 crore, the submitting added.
Godrej properties is developing residential, business and township initiatives spread over one hundred fifteen million square ft in 12 towns.
tale first published on: April 30, 2016 19:36 (IST)
Tags: Godrej homes, satisfied Highrises, Karelides traders
