DB Realty to sell its shareholding in Siddhivinayak Realties to RCFL for Rs 376.18 crore, ET RealEstate

November 2, 2023

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.

  • Published On Nov 2, 2023 at 12:30 PM IST

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