Ajmera Realty arm has sold its 50% stake in GG Developers WLL

Ajmera Mayfair Global Realty W.L.L, 60% subsidiary of Ajmera Realty & Infra India Limited ("the Company)" has sold its entire i.e. 50% stake in GG Developers WLL (the step down subsidiary).

The Company had undertaken Golden Gate Project at Bahrain through its step down subsidiary.

The consideration amount is INR Rs.240 crores approx. constituting cash consideration of Rs.40 crores on execution of Agreement for sale between the GG Developers WLL and Grnata Real Estate WLL along with allotment or 10,268 sq.mt (approx.) constructed apartments in Golden gate Project, Bahrain, which is under construction until Dec 2022, estimated value of about Rs. 200 crores.

Shares of AJMERA REALTY & INFRA INDIA LTD. was last trading in BSE at Rs.130.05 as compared to the previous close of Rs. 133.15. The total number of shares traded during the day was 55652 in over 1123 trades.

The stock hit an intraday high of Rs. 137 and intraday low of 128.7. The net turnover during the day was Rs. 7399348.

Source : Equity Bulls

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