New Delhi: Godrej Properties has acquired 100% issued and paid-up share capital of Yerwada Builders (YDPL) from promoter group firm Godrej Funding Advisors. With this, YDPL has change into a completely owned subsidiary of the corporate with impact from December 09, 2021, the corporate stated in a BSE submitting.

The paid-up capital of YDPL is Rs 1 lakh whereas the turnover is nil. 10,000 fairness shares of Rs 10 every, representing 100% of the paid-up fairness share capital of YDPL.

The corporate will later maintain a 20% stake in YDPL, with the remaining quantity with an actual estate-focused funding fund of the Godrej Group.

The acquisition is made in accordance with the share buy settlement entered into with the shareholders of YDPL.

Godrej Properties together with different buyers intends to construct and develop an actual property business mission on the land to be acquired by YDPL, it stated within the regulatory submitting.

YDPL, integrated on November 18, 2021, is primarily engaged within the enterprise of producing, creating and promoting business mission.

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