Godrej Properties has further increased its stake in equity share capital of Wonder City Buildcon (WCBL) from 74% to 100%, the company informed in a BSE filing.
Pursuant to the said acquisition, WCBL has become wholly-owned subsidiary of the company with effect from May 26, 2023.
According to the regulatory filing, 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.
The turnover of WCBL for FY 2022-23 is Rs 26.07 crore and paid-up share capital is Rs. 111.62 crore, the company said in the regulatory filing.