MoneyWorks4Me

Godrej Properties’ arm to acquire 49.90% stake in GBPL

13 Nov 2014 Evaluate

Godrej Properties - wholly owned subsidiary (WOS) - Godrej Projects Development (GPDPL) will acquire 49.90% of the paid-up share capital of Godrej Buildwell (GBPL), a subsidiary of the company, from India Realty Excellence Fund through its Investment Manager Motilal Oswal Private Equity Advisors. The board of directors of the company by a circular resolution dated November 12, 2014, has approved for the same.

Upon acquisition of shares by GPDPL, GBPL would be merged with GPDPL through a scheme of arrangement, subject to such terms as may be approved and necessary approvals as may be required.

Godrej Properties is a realty firm of Godrej group, promoted by Godrej Industries and Godrej & Boyce Manufacturing Company. It is one of the leading real estate development companies in India based in Mumbai, Maharashtra.

Peers
Company Name CMP
Lodha Developers 1109.05
Prestige EstatesProj 1434.40
Dilip Buildcon 409.70
DLF 653.90
Oberoi Realty 1734.10
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