Eldeco Housing and Industries has sold 100 per cent stake in its arm Swarnim Nirman to Eldeco Infrastructure and Properties. The Company on March 14, 2020 has sold 10,000 equity shares i.e. 100% of the total equity capital of its wholly owned subsidiary Swarnim Nirman.
The buyer does not belong to the promoter/promoter group. The company has received a consideration of Rs 1 lakh for disposing of its entire stake in the arm. The deal is not a related party transaction.
Eldeco Housing & Industries has a presence in all the major real estate classes - multi-storey group housing, residential townships, shopping malls, industrial parks, SEZs, office buildings and hotels.