Godrej Properties acquires stake in Yerwada Developers
Godrej Properties Limited has acquired 100% issued and paid-up share capital of Yerwada Developers Private Limited (YDPL).
The paid-up capital of Yerwada Developers is INR 1 lakh, while it is yet to have a turnover.
Incorporated last month, the company is mainly engaged in the business of construction, development, and sale of commercial projects in India.
According to Godrej Properties, the acquisition is a related party transaction as it is acquiring a 20% stake in Yerwada Developers for INR 1 lakh from Godrej Investment Advisors Private Limited (GIAPL), which is a promoter group company. The remaining 80% will be owned by a real estate focused investment fund of the Godrej Group.
Godrej Properties along with other investors plans to build and develop a real estate commercial project on the land to be purchased by Yerwada Developers.