D B Realty to acquire Shiva Group Companies stake in JVs

D B Realty Limited ("Company") is currently holding approx. 48.33% equity stake in in Shiva Group Companies which comprises of the following Companies:

1. Shiva Buildcon Private Limited
2. Shiva Multitrade Private Limited
3. Shiva Realtors Suburban Private Limited
(hereinafter collectively referred as "Shiva Group Companies")

The Company has entered into Memorandum of Understanding(s) (MOU) on 4th April, 2022 with Shiva Group Companies and existing shareholders of Shiva Group Companies to acquire entire equity shares of Shiva Group Companies from its existing shareholders. In accordance with terms and conditions as contained in the aforesaid MOUs, the shareholders of Shiva Group Companies will transfer equity shares to the Company upon full payment of acquisition consideration by the Company and thereafter they will become wholly owned subsidiary companies of the Company.

The aforesaid Shiva Group Companies are currently holding 34% equity stake in Neelkamal Realtors Suburban Private Limited, a subsidiary of the Company which is executing DB Ozone Project at Dahisar.

Shares of D B Realty Limited was last trading in BSE at Rs. 103.65 as compared to the previous close of Rs. 105.50. The total number of shares traded during the day was 69653 in over 723 trades.

The stock hit an intraday high of Rs. 110.20 and intraday low of 101.05. The net turnover during the day was Rs. 7172321.00.

Source : Equity Bulls

Keywords

DBRealty INE879I01012 ShivaGroupCompanies MOU StakeAcquisition