VIPUL Ltd updates on JV agreement with TULIP

VIPUL Ltd has signed and entered a Joint Venture Agreement with M/s. Tulip Infratech Private Limited (TULIP), for assigning of all development rights to carry out all developments activities in relation to Aarohan Mixed Land use project at Golf Course Road, sector-53, Gurugram, Haryana ('Project').

The necessary approvals from the concerned authorities for the same have been obtained by the Company and TULIP, consequent to the same the financial obligations due to PNB Housing Finance Ltd to the tune of Rs 353.00 Crores stands discharged.

Shares of Vipul Limited was last trading in BSE at Rs. 19.70 as compared to the previous close of Rs. 18.90. The total number of shares traded during the day was 52 in over 2 trades.

The stock hit an intraday high of Rs. 19.70 and intraday low of 19.70. The net turnover during the day was Rs. 1024.00.

Source : Equity Bulls

Keywords

Vipul INE946H01037 TULIP JVAgreement FinancialObligation