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Pudumjee Pulp & Paper Mills executes agreements to pick 50% stake in GTPL

02 Jan 2017 Evaluate

Pudumjee Pulp & Paper Mills has executed a Share Purchase Agreement / Shareholders’ Agreement with GCorp Developers for acquisition of 50% equity shares of GCORP Township, a Special Purpose Vehicle (GTPL). GTPL is engaged in the business of real estate development. The acquisition will enable the company to expand its real estate business in around Bombay, namely Kalyan etc. The acquisition is being made at a face value of Rs 10 per equity share aggregating to Rs one crore and fifty thousand only.

Pudumjee Pulp & Paper Mills is engaged in the business of real estate and sale of wind power. The company’s segments include Construction, Power and Other.



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