Kolte Patil Developers is currently trading at Rs. 247.65, up by 1.95 points or 0.79% from its previous closing of Rs. 245.70 on the BSE.
The scrip opened at Rs. 247.70 and has touched a high and low of Rs. 252.20 and Rs. 244.55 respectively. So far 2227 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 317.00 on 14-Sep-2018 and a 52 week low of Rs. 207.00 on 24-May-2019.
Last one week high and low of the scrip stood at Rs. 250.20 and Rs. 207.00 respectively. The current market cap of the company is Rs. 1884.38 crore.
The promoters holding in the company stood at 74.53%, while Institutions and Non-Institutions held 14.42% and 11.06% respectively.
Kolte Patil Developers has entered into a share purchase agreement to buy-out the 50% stake held by India Advantage Fund-III (IAF-III) and India Advantage Fund-IV (IAF-IV) managed by ICICI Venture Funds Management Company (ICICI Venture) in KPDL's flagship township project - Life Republic Township Project in Pune.
Following the buy-out, KPDL's economic interest in Life Republic will increase to 95%, and the company's overall economic interest in its entire portfolio of projects will rise from 50% to 90%. The cost of acquisition is Rs 140 crore.
Kolte Patil Developers is a leading real estate company. The company has developed and constructed over 50 projects including residential complexes, commercial complexes and IT Parks covering a saleable area of approximately 15 million square feet across Pune and Bengaluru.
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