Anant Raj has received approval from Finance and Investment Committee for acquisition of 100% equity shares of Sheetij Properties and to enter into Share Purchase Agreement for acquisition of equity shares of Sheetij Properties.
After this acquisition, Sheetij Properties will become wholly owned subsidiary of Anant Raj. The acquisition of entire stake of Target Company will enhance the development potential of the Company in the Sector-63A, Gurugram, Haryana, and lead to increase in land holding for residential development.
Target Company's shares will be acquired by the Company by acquiring 1,000 Equity Shares of Rs 10 each. The Company will also provide Rs 42 crore as Inter Corporate Loans immediately and also provide additional funds as and when required, once the Target Company becomes its wholly owned subsidiary. The Finance and Investment Committee at its meeting held on August 29, 2024 has, inter alia, approved the same.
Anant Raj has become synonymous with the highest quality, excellence and innovation in the field of construction and real estate development. As one of India's leading infrastructure development enterprise armed with an extensive land bank, the group is in the process of revolutionizing corporate spaces with the development of Special Economic Zones and IT Parks.
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