Godrej Properties has acquired 100% issued and paid-up share capital of the Ceear Lifespaces (CLPL). Consequent to the said acquisition, CLPL has become a wholly owned subsidiary of the company.
The acquisition has been done in accordance with the Share Purchase Agreement (SPA) dated March 20, 2020 entered into with the shareholders of CLPL. CLPL will undertake business of construction and development of land situated at Thane. Total consideration of Rs 1 lakh is paid for the above acquisition.
Godrej Properties is a realty firm of Godrej group and it is one of the leading real estate development companies in India based in Mumbai, Maharashtra. Currently, their business focuses on residential, commercial and township developments.
