Pinnacle Investments sold 30 lakh shares, or a 0.56 percent stake, at an average price of Rs 205.37 in DB Realty
Mumbai Coastal Road: The BMC is constructing the coastal road project and for which it required land for setting up casting yards and allied works.
Base size of the QIP will likely be Rs 1,000 crore with a greenshoe option to raise an additional Rs 500 crore
The property developer plans to complete the fundraising in the coming weeks, depending on market conditions
On completion of the demerger process, the shares of the resulting company will be listed on BSE and the National Stock Exchange
DB Realty’s board of directors gave their nod for raising of funds via the QIP route
The company stated that a substantial portion of the proceeds from the stake sale has been infused back by the promoters into the company to pay its entire debt.
The company's net profit for the quarter soared 55.5 percent on year aided by a manifold rise in revenue and stellar other income.
The Mumbai-based realty company is set to acquire shares in Bamboo Hotel Global Centre, Goan Hotels & Realty, and BD and P Hotels
The company will use the funds raised through issue of warrants convertible into equity shares on preferential basis leading to reduction of debt
The shares of D B Realty fell 1.83 percent to Rs 155.20 at 10:55 am on August 25.