Godrej houses Buys 49% Stake In Arm happy Highrises

Representational image
New Delhi: Realty firm Godrej homes has acquired a 49 in step with cent stake in its subsidiary glad Highrises from Karelides traders for Rs 248.50 crore.

Godrej homes earlier had a fifty one according to cent stake in satisfied Highrises.

put up-acquisition, it has increased its shareholding to one hundred consistent with cent with the aid of obtaining the last 49 according to cent stake.

“The organization has bought 99,528 fairness stocks of Rs 10 every of happy Highrises Ltd, a subsidiary of the business enterprise, from Karelides buyers Pvt Ltd. therefore, satisfied Highrises Ltd has end up an entirely-owned subsidiary of the enterprise,” Godrej properties said in a submitting to the BSE.

Karelides buyers become a strategic investor in satisfied Highrises, which is developing a actual property mission in Kolkata.

The price of the purchase of stocks is Rs 248.50 crore, the filing delivered.

Godrej residences is growing residential, business and township projects spread over a hundred and fifteen million square toes in 12 towns.