D B Realty has informed that the Company has executed a Share Purchase Agreement on 06th November, 2023 to dispose off/sale of its 100% stake in equity and preference shares in Real Gem Buildtech (‘RGBPL’) for a consideration of approx. Rs 231.42 crores to Kingmaker Developers (‘KDPL’/Purchaser'), a company of Rustomjee Group. Consequent upon the aforesaid sale, RGBPL shall cease to be a wholly owned subsidiary of the Company. In light of above, the Scheme of Arrangement filed earlier by RGBPL with National Company Law Tribunal, Mumbai Bench for transferring the Project ‘Rustomjee Crown’ will be redundant and shall stand withdrawn. Necessary application for the same shall be filed by RGBPL in due course. The company has enclosed the details as required under Regulation 30 of the SEBI (Listing obligations and Disclosure Requirements), 2015 read with SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.
