Godrej Properties Restricted on Monday knowledgeable the exchanges that the corporate’s stake in Yerwada Builders Non-public Restricted (YDPL) has come down to twenty% and because of this YDPL ceases to be a completely owned subsidiary of the corporate with impact from January 31, 2022.

The Firm had entered right into a Share Buy, Securities Subscription, Shareholders and Working Settlement (SPSSSOA) with GBTC II (Asset B) Ptey in December 2021. Ltd. (GBTC), YDPL, and Godrej Funding Advisors Non-public Restricted (GIAPL) for subscribing securities in YDPL.

SPSSSOA signed on January 25, 2022, in keeping with which YDPL will concern securities to GPL and GBTC within the ratio of 20:80. The stated transaction is a associated celebration transaction to the extent of subscription of 1,10,00,000 shares of YPDL as per SPSSSOA. Since, YDPL is integrated on November 18, 2021, the turnover and earnings of YDPL is zero.

At round 10.19 pm, Godrej Properties Ltd was buying and selling at Rs 1747.90 per share, up Rs 33.35 or 1.95% from its earlier shut of Rs 1,714.55 per share on BSE.

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