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Unitech jumps on resolving disputes with Telenor

Unitech Ltd. | Construction - Real Estate | Construction & Infrastructure | BSE: 507878 | NSE: UNITECH

11 Oct 2012 Evaluate

Unitech is currently trading at Rs. 24.15, up by 1.00 points or 4.32% from its previous closing of Rs. 23.15 on the BSE.

The scrip opened at Rs. 23.80 and has touched a high and low of Rs. 24.45 and Rs. 23.50 respectively. So far 8,14,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 37.95 on 22-Feb-2012 and a 52 week low of Rs. 17.45 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 26.35 and Rs. 23.05 respectively. The current market cap of the company is Rs. 6,313.00 crore.

The promoters holding in the company stood at 48.35% while Institutions and Non-Institutions held 33.40% and 18.25% respectively.

Unitech has reached an agreement with Telenor to amicably settle all disputes between the two parties. Both the parties agree to support the transfer of the business in Unitech Wireless (Uninor) to a new entity (NewCo) controlled by Telenor. Unitech has agreed to dispose of its shareholding in Uninor for a nominal amount and Unitech shall continue to retain its economic rights associated with its current shareholding in Unitech Wireless.

Also with immediate effect, Unitech will withdraw its nominees from the Uninor Board and all special shareholder rights shall stand suspended. Subsequent to a successful business transfer and spectrum auction, all disputes and claims between the parties shall stand withdrawn / concluded.

With the settlement of disputes with Telenor, Unitech Group will be able to have more focus and management bandwidth to further its core business of real estate and monetization of its land parcels across the country so as to enhance the stakeholder’s value.

Unitech, being one of the leading real estate companies, has several business segments relating to residential, commercial, Information Technology (IT) parks, retail, amusement parks, etc, with over four decades of achievement and continues to be a prominent player with high degree of quality and affordable real estate in the Indian market space.

Unitech Share Price

5.06 0.02 (0.40%)

17-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
Lodha Developers	871.70
Dilip Buildcon	457.55
DLF	601.80
Oberoi Realty	1710.00
Ahluwalia Contract(I	832.90
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Unitech jumps on resolving disputes with Telenor

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