Ajmera Realty & Infra India Ltd on Friday said its wholly owned subsidiary Ajmera Clean Green Energy Ltd will sell its entire 49 per cent stake in associate company, Comet Power Pvt Ltd, for ₹16.92 crore. The transaction is expected to be completed on or before March 31. Comet Power made a loss of ₹3.67 lalkh for the financial year ended March 31, 2016, and as such the sale of power business will not have any impact on the profit of Ajmera Realty, it said in an exchange filing. The sale proceeds will be deployed by the company for its core real estate business. Shares of Ajmera Realty closed flat at ₹172.40 on the NSE.

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