DB Realty to increase stake in Neelkamal Realtors Tower

DB Realty has executed a Share Purchase Agreement on September 26, 2018 to acquire entire equity shares held by IL&FS Trust (now known as Vistra ITCL (India)) and IIRF Holdings VII (Sellers) in Neelkamal Realtors Tower (NRTPL), a subsidiary of the company (54.31% of the total Paid up Capital), having ‘One Mahalakshmi’ project at Jacob Circle, Mahalaxmi, Mumbai, on the terms and conditions agreed in the Share Purchase Agreement and other ancillary documents executed with the Seller and/ or other necessary parties.

Post acquisition of the Equity shares by the company from the Sellers, NRTPL will become wholly owned subsidiary of the company.

DB Realty is a real estate development and construction company. The company is engaged in the construction of residential buildings/commercial complexes and activities connected and incidental thereto.