Sundaram-Clayton has acquired an additional stake of 11.20% in Emerald Haven Realty (EHRL), subsidiary company, by way of purchase of shares from the existing shareholders. Consequent to the additional acquisition, the company’s stake in EHRL has increased to 77.60% from 66.40%.
EHRL is engaged in the business of real estate development. EHRL presents great diversification potential which has been conceptualized by the company and hence this investment is made. The cost of acquisition is Rs 15 per share amounting to Rs 42.92 crore.
Sundaram-Clayton operates in a wide range of activities such as manufacturing of automotive vehicles, automotive components, spare parts & accessories thereof, housing development and financial services.
