Credit Suisse sells entire stake in Parsvnath Developers for Rs 19.28 crore

21 Sep 2013

Credit Suisse (Singapore) has sold its entire stake in realty firm Parsvnath Developers for an estimated amount of over Rs 19 crore. The Foreign fund house has offloaded 70.52 lakh shares of the company to Venus Capital Management at an average price of Rs 27.35, valuing the transaction at Rs 19.28 crore.

As on June 30, 2013, the promoters holding in the company stood at 72.98% while institutions and non-institutions held 11.29% and 15.72% stake in the company, respectively.

Parsvnath Developers has diversified portfolio, which includes, integrated townships, group housing, commercial complexes, hotels, IT parks, among others. The company has total developable area of over 195.82 million square feet across all real estate verticals.

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