Hubtown has received approval to divest its entire shareholding in one of its subsidiary Heet Builders, comprising of 4,720 equity shares of the face value of Rs 100 per share. Consequent to the above divestment by the company, Heet shall cease to be a subsidiary of the company. The Board of Directors of the Company at its meeting held on January 28, 2019 has approved the same.
The total consideration received from such sale is Rs 8 crore. The company has a project at Matunga, and with liability of an amount of Rs 309.96 crore standing in the books of Heet is also transferred.
Hubtown engaged in the development, sale, and lease of commercial, residential, retail, and industrial properties. The company's project portfolio primarily comprises residential projects, commercial projects, special economic zones, SRAs, IT parks, biotech parks, robotic car parks, retail parks, and textile parks.
| Company Name | CMP |
|---|---|
| Lodha Developers | 825.30 |
| Dilip Buildcon | 436.90 |
| DLF | 566.30 |
| Oberoi Realty | 1684.15 |
| Ahluwalia Contract(I | 780.20 |
| View more.. | |
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