Prozone Realty Merger & Restructuring Worth ₹1,242 Cr
Prozone Realty Limited completed the sale of its stake in Kruti Realtors, Alliance Mall Developers, and Empire Mall to Inorbit Malls for ₹1,242.50 Crore.
- Value
- ₹1,242 Cr
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Prozone Realty Limited completed the sale of its stake in Kruti Realtors, Alliance Mall Developers, and Empire Mall to Inorbit Malls for ₹1,242.50 Crore.
Prozone Realty acquired an additional 17.51% stake in Downtown Retail Malls Private Limited for Rs. 0.00175 Crore. This transaction increases their total holding to 26.80%.
Prozone Realty's step-down subsidiary, Empire Mall, has acquired 100% stake in Festivalvalley Developers Private Limited. The acquisition, valued at ₹0.01 Crore, supports Prozone's business expansion.
Prozone Realty completed a 17.507% stake acquisition in GPDPL for Rs.24 Crore. The transaction followed terms set in the initial Share Purchase Agreement.
Prozone Realty purchased an additional 2.59% stake in Hagwood Commercial Developers. Hagwood has now become a wholly-owned subsidiary of the company.
Prozone Realty Limited's subsidiary is transferring land assets to another wholly owned group subsidiary for ₹44 Crore. The internal restructuring maintains existing group control.
Prozone Realty Limited's subsidiary is transferring land assets to another 100% owned group entity for ₹13 Crore. The internal restructuring maintains ultimate beneficial ownership while streamlining assets.
Prozone Realty is selling its subsidiary Kruti Realtors to Inorbit Malls for ₹1,242.50 Crore. The cash-based divestment aims to unlock value through a shareholder-approved hiving-off process.
Prozone Realty shareholders approved the disinvestment of stakes in material subsidiaries for ₹1,242.50 Crore. The transaction involving Inorbit Malls aims to hive off identified assets.