Comments
Kolte-Patil Developers Ltd has acquired 49 per cent stake in its two group SPVs – namely Oakwood Hospitality and Jasmine Hospitality – having projects at Pune and Bangalore respectively.
The total deal is valued at Rs 65.62 crore.
The company earlier had 51 per cent in these subsidiaries while Epsilon Investments Ltd, a foreign investor held the remaining 49 per cent. Both subsidiaries are now wholly held by Kolte-Patil following the completion of the transactions.
The Pune property comprises 0.45 million sq ft of saleable area, while the Bangalore property consists of .58 million sq ft. Kolte-Patil plans to develop high- end residential projects on these two land parcels under its brand 24K.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.