DB Realty to sell its shareholding in Siddhivinayak Realties to RCFL for Rs 376.18 crore, ET RealEstate
NEW DELHI: DB Realty has entered into a share purchase agreement to sell its entire shareholding in equity shares & OCDs in Siddhivinayak Realties (SRPL) to Reliance Commercial Finance (RCFL) for Rs 376.18 crore, the company said in a BSE filing.
This is in order to settle part of the group liabilities given by RCFL to the company, its subsidiary – Goregaon Hotel and Realty and its associate – Bamboo Hotel & Global Centre (Delhi).
N A Estates will sell 10.45% equity holding, Vanita Infrastructures will sell 19.23% equity holding, Horizontal Ventures will sell 14.28% equity holding and BD And P Hotels (India) will sell 4.55% equity holding in SRPL, it said in the regulatory filing.
