Prestige Estates acquires 29% stake in DB (BKC) Realtors from Trinity Capital

The company has bought 28.99% stake in a commercial project in Mumbai of DB Realty.

Nov 19, 2019 03:11 IST India Infoline News Service

Prestige Estates
Prestige Estates Projects said in the press note on Monday post-market hours that it has acquired 28.99% stake in a commercial project in Mumbai of DB Realty.

“Prestige Falcon Realty Ventures Private Limited ("PFRVPL"), wholly-owned subsidiary of Prestige Estates Projects Limited, has acquired 1.32 lakh equity shares representing 28.99% (without considering other convertible instruments in the entity) of the equity share capital of DB (BKC) Realtors Private Limited from Trinity Capital (Ten) Limited as per the terms and conditions agreed,” the company said in the filing.

On Monday, Prestige Estates Projects Ltd ended at Rs289.85, up by Rs1.65 or 0.57% from its previous closing of Rs288.20 on the BSE.

The scrip opened at Rs289.65 and touched a high and low of Rs294.45 and Rs287.20 respectively.  

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