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Puravankara gets nod to sell wholly owned subsidiaries

24 Jan 2024 Evaluate

Puravankara has received approval for the sale of shares of two of its wholly owned subsidiaries namely, Purva Blue Agate and Purva Shelters to Centurions Housing & Constructions (Centurions) and Purva Star Properties (Purva Star), wholly owned subsidiary companies of the company, respectively. 

The proposed buyers are wholly owned subsidiaries of the company and thus the transaction is not a related party transaction. On transfer of shares, the status of Purva Blue and Purva Shelters will change from wholly owned subsidiaries to step down wholly owned subsidiaries. The Board of Directors of the Company at its meeting held on January 23, 2024, inter-alia has considered and approved the same. 

Puravankara is a leading real estate company in India, with a presence in Bengaluru, Kochi, Chennai, Coimbatore, Mangaluru, Hyderabad, Mysore, Mumbai and Pune.


Peers
Company Name CMP
Lodha Developers 1109.05
Prestige EstatesProj 1434.40
Dilip Buildcon 409.70
DLF 653.90
Oberoi Realty 1734.10
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