D B Realty Limited to Increase its Stake in Neelkamal Realtors Tower Private Limited
Deepthi | Myequity news | Date : 27-09-2018 19:50:00 IST
D B Realty Limited has executed a Share Purchase Agreement on 26th September, 2018 to acquire entire equity shares held by IL&FS Trust Company Limited and IIRF Holdings VII Limited in Neelkamal Realtors Tower Private Limited (NRTPL), a subsidiary of the Company (54.31% of the total Paid up Capital), having "One Mahalakshmi" project at Jacob Circle, Mahalaxmi, Mumbai- 400 011.
Post acquisition of the Equity shares by the Company from the Sellers, NRTPL will become wholly owned subsidiary of the D B Realty Limited in terms with the provisions of the Companies Act, 2013.
About D B Realty Limited:
DB Realty Ltd. (Dynamix Balwas Realty) is a Mumbai based, Real Estate Development Company and the flagship company of DB Group, established in 2006. DB Realty Ltd. has an expanding portfolio, currently consisting of 25 projects in and around Mumbai and Pune. The company focuses on various stages of planning and constructing residential and commercial properties as well as mass housing and cluster redevelopment projects. The company’s notable projects include DB Crown, Orchid Heights, DB Woods, Orchid Suburbia and DB Ozone.