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.
The loss of revenue has come at a time when other real estate companies have seen record breaking pre sales booking and launch of new projects lifting their revenue and profits.
DB Realty plans to sell its stake in Prestige (BKC) Realtors Pvt Ltd and Turf Estate Join Venture LLP.
The company has agreed to pay an amount of Rs 185.60 crore to the lender as full and final settlement in various tranches.
According to a Bloomberg report, Adani has offered to pay Rs 31.97 crore to financial creditors who were asking Rs 1,658 crore
Adani offered to pay 319.7 million rupees ($4 million) to financial creditors, compared with their ask for 16.58 billion rupees and 15.2 million rupees to employees, the person said, asking not to be identified as the details are private.
DB Realty requires major funds infusion for its ongoing high-end projects and Adani Realty is said to be a suitor, according to the report.