Private Equity Other Private Equity/Strategic Investments
Godrej Properties to acquire 10% in DB Realty for Rs.400-Cr
Source BSE Release (opens in a new tab)BSE Release (opens in a new tab)
Godrej Properties Ltd (GPL) is to invest INR 400 crore (via warrants convertible into equity shares) to acquire an about 10% stake in fellow Mumbai-based and publicly listed DB Realty (DBR). The two will set up an INR 600 crore, 50-50 joint platform to undertake slum redevelopment projects. Axis Capital acted as the sole advisor to the transaction.