Poddar Developers sells investment in 3 subsidiaries

Realty player Poddar Developers today said it has sold investments in its three subsidiaries -- Poddar Natural Resources and Ores, Poddar Infrastructure and Poddar Leisure Infrastructure. The company also informed that all three Companies will no longer be its subsidiaries. "...the company has sold the investments in three subsidiaries i.e. Poddar Natural Resources and Ores Ltd, Poddar Infrastructure and Poddar Leisure Infrastructure at par on September 24, 2015 as approved by the Board of Directors at their meeting held on August 11, 2015," Poddar Developers said in a regulatory filing. In January this year, the company had raised Rs 125 crore through qualified institutions placement (QIP) route.

Shares of Poddar Developers today closed at Rs 1,118.50, up by 1.87 percent on BSE.