Sunteck Realty has executed a Share Purchase Agreement (SPA) for the acquisition of 100% equity stake in Tanirika Infrastructure (TIPL). Post acquisition, TIPL has become a wholly owned subsidiary of the company.
TIPL owns a property situated in Nepean Sea Road, South Mumbai. Acquisition is strategically aligned to Sunteck’s objective of the development of the said property, part land parcel of which is already owned by Mithra Buildcon, wholly owned subsidiary of the Company. TIPL shall be acquired at an enterprise value of around Rs 22.40 crore.
Sunteck Realty is a Mumbai-based real estate development company, catering to the premium ultra-luxury and luxury residential segment.
