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Godrej Properties increases its stake in GHCL

According to the regulatory filing, 2,21,54,587 equity shares of Rs 10 each, representing 26% paid-up equity share capital of GHCL are acquired from existing shareholder.

Godrej Properties (GPL) has further increased its stake in equity share capital of Godrej Home Constructions (GHCL) from 74% to 100% for a total considerations of Rs 14.98 crore, the company said in a BSE filing.

According to the regulatory filing, 2,21,54,587 equity shares of Rs 10 each, representing 26% paid-up equity share capital of GHCL are acquired from existing shareholder. Pursuant to the said acquisition, GHCL has become a wholly-owned subsidiary of the company with effect from June 02, 2023.

Paid-up share capital of GHCL is Rs 85.20 crore and the turnover for FY 2022-23 was Rs 5.06 crore.

The company recently increased its stake in equity share capital of Wonder City Buildcon (WCBL) from 74% to 100%. 2,90,21,528 equity shares of Rs 10 each, representing 26% paid-up equity share capital of WCBL are acquired from existing shareholder. Cost of acquisition or the price at which the shares are acquired is Rs 45.13 lakh.

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