Prestige Estates Projects has executed agreement for acquiring 25% equity stake in K2K Infrastructure India, subsidiary Company. The Company is holding 75% stake in the target entity and post-acquisition, it will become a wholly owned subsidiary of the Company. The consideration of said acquisition is Rs 7.50 crore.
The company entered into agreement for acquiring 27% equity stake in Prestige Garden Estates, subsidiary Company. The Company is holding 73% stake in the target entity and post-acquisition, it will become a wholly owned subsidiary of the Company. The consideration of said acquisition is Rs 214.38 crore. Further, the company has also entered into agreement for acquiring 40% equity stake in Apex Realty Management, subsidiary Company. The Company is holding 60% stake in the target entity and post-acquisition, it will become a wholly owned subsidiary of the Company. The consideration of said acquisition is Rs 0.16 crore.
Besides, the company signed agreement for acquiring 49% equity stake in Prestige Acres, subsidiary Company. The Company is holding 51% stake in the target entity and post-acquisition, it will become a wholly owned subsidiary of the Company. The consideration of said acquisition is Rs 331.00 crore and lastly, the company signed agreement for acquiring 16% equity stake in Prestige Projects, subsidiary Company. The Company is holding 60% stake in the target entity and post-acquisition, the Company stake will increase to 76%.
The said acquisitions are expected to be completed by October 31, 2024
Prestige Estates Projects is engaged in the business of real estate development. The company’s principal products/services include Development and construction of Properties, Leasing of commercial properties and Share of profit /loss from partnership firm.
| Company Name | CMP |
|---|---|
| Lodha Developers | 1206.00 |
| Dilip Buildcon | 416.95 |
| Sobha | 1273.00 |
| Oberoi Realty | 1859.00 |
| Ahluwalia Contract(I | 698.00 |
| View more.. | |
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