Other Deals - Listed Firms
Capital Group acquires 1.95% stake in realtor Sri Lotus Developers for Rs.190-Cr
BSE Announcement Business Standard
Smallcap World Fund, a fund managed by Capital Group, has acquired a 1.95% stake in publicly listed, Mumbai-based property developer Sri Lotus Developers & Realty for INR 190 crore, through an open-market purchase at INR 199 per share. The sale was initiated by promoter Anand Kamalnayan Pandit, who offloaded 97.70 lakh shares, representing 2% of the company's issued and paid-up equity share capital.Sri Lotus Developers & Realty focuses on luxury residential redevelopment projects. The company maintains a portfolio of 20 projects across micro-markets in Mumbai such as Juhu, Versova, Carter Road, Bandstand, and Prabhadevi, with an aggregate gross development value estimated at INR 20,000 crore.
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