Godrej Properties Limited ("the Company") has acquired 100% issued and paid-up share capital of the 'Ceear Lifespaces Private Limited' ("CLPL"). Consequent to the said acquisition, CLPL has become a wholly owned subsidiary of the Company.
The acquisition is done in accordance with the Share Purchase Agreement ('SPA') dated 20th March, 2020 entered into with the shareholders of CLPL. CLPL will undertake business of construction and development of land situated at Thane.
Total consideration of Rs. 1,00,000/- (Rupees One Lakh only) is paid for the above acquisition.
CLPL is into real estate development business, incorporated in 2017 having registered office in Mumbai. Since CLPL was incorporated on June 02, 2017, the history of last 3 years turnover is not being provided. The turnover during last 2 years is negligible.
Shares of Godrej Properties Ltd was last trading in BSE at Rs.711.85 as compared to the previous close of Rs. 657.15. The total number of shares traded during the day was 52267 in over 5393 trades.
The stock hit an intraday high of Rs. 724.95 and intraday low of 612. The net turnover during the day was Rs. 34895567.