Godrej Properties gives exit to HDFC Property Fund in Godrej Realty Pvt Ltd
New Delhi: Godrej Properties Ltd (GPL) has increased its equity stake in Godrej Realty Pvt Ltd from 51 percent earlier to 100 percent now by purchasing equity shares from HDFC Property Fund.
Godrej Realty is currently engaged in construction and development of land in Pune, according to a regulatory filing.
"Company has increased its equity stake in Godrej Realty from 51 percent to 100 percent by acquiring equity shares from HDFC Venture Trustee Company Ltd (acting for and on behalf of HDFC Property Fund invested through Scheme HDFC India Real Estate Fund)." GPL said in the filing.
After this move, Godrej Realty has become wholly-owned subsidiary of GPL with effect from 31 March 2021. GPL, however, did not disclose the transaction value.