D B Realty Limited to acquire further stake in Neelkamal Realtors Tower Pvt Ltd

D B Realty Limited ("Company") is currently holding approx. 42.82% stake (in equity shares) in Neelkamal Realtors Tower Private Limited ("NRTPL").

The Company proposes to acquire entire i) 1,305,098 equity shares of face value of Rs. 10/- each held by IIRF Holdings VII Limited, Mauritius ("Seller 1) and ii) 197,556 equity shares of face value of Rs. 10/- each held by Vistra ITCL (India) Limited ("Seller 2) (Seller 1 and Seller 2 collectively referred as "Investors", who are currently holding 49.66% and 7.52% equity stake respectively) in NRTPL, subject to terms and conditions as contained in the Share Purchase Agreement executed on September 28, 2021 by the Company with Investors and NRTPL.

Post acquisition of aforesaid shares by the Company, NRTPL shall become wholly owned subsidiary company of the Company.

Shares of D B REALTY LIMITED was last trading in BSE at Rs. 27 as compared to the previous close of Rs. 28.2. The total number of shares traded during the day was 102722 in over 845 trades.

The stock hit an intraday high of Rs. 28.6 and intraday low of 26.8. The net turnover during the day was Rs. 2810876.

Source : Equity Bulls

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