Larsen & Tourbo’s (L&T) wholly-owned subsidiary - L&T Realty has transferred 2,88,02,880 equity shares in L&T South City Projects to Pragnya South Opportunity Fund & Pragnya Fund II upon receipt of consideration of Rs 188.60 crore on March 20, 2017. L&T Realty had earlier executed a share purchase agreement (SPA) for selling its entire stake in L&T South City Projects to Pragnya group.
Pragnya group is an investment firm with a specific focus on fund management, property development and asset management.
Larsen & Toubro is a major technology, engineering, construction, manufacturing and financial services conglomerate, with global operations.
