Prime Urban Development India (PUDIL) has received an approval to acquire 58,02,925 equity shares of Rs 10 each at a premium of Rs 60.71 per share constituting 100% of the paid up equity share capital of New Line Buildtech (NLBPL), a Private Limited Company incorporated under the Companies Act, 1956.
NLBPL will become a wholly owned subsidiary of PUDIL as and when the share acquisition/transfer process is completed. The board of directors at its meeting held on June 21, 2017 has approved for the same.
Prime Urban Developments India is engaged in the business of real estate and textiles. The Realty segment includes real estate developments and sales of developed lands. The Textile segment is engaged in the export of cotton yarn and fabrics under merchant trading.
