Hemisphere Properties India Ltd Share Price

Summary

Hemisphere Properties India Limited, a Central Public Sector Enterprise (CPSE) was incorporated on 17 January, 2005 as Real Estate Company to transfer and hive off the land set aside as Surplus Land at the time of disinvestment of Videsh Sanchar Nigam Limited (VSNL) which is presently known as Tata Communications Limited. The Company President of India through Department of Telecommunication acquired majority shareholding in HPIL in year 2012 and it became a CPSE- Government Company from March 18, 2014. The Company is engaged in construction and development of commercial building, industrial shed, offices, house buildings, apartment, structures, hotels or other allied works of every description on any land acquired howsoever by it whether on ownership basis or lease or licensee and to deal with such construction or developed or build premises by letting out, hiring or sale.During FY 2012-13, Government of India acquired 51.12% equity stake in the Company after the decision of Cabinet. Earlier, the Company was in administration of Department of Telecommunications and further after Cabinets decision dated April 6, 2018, the administration of the Company was transferred from Department of Telecommunication to Ministry of Housing & Urban Affairs. The Mumbai Bench of National Company Law Tribunal and Ministry of Corporate Affairs approved Scheme of Arrangement & Reconstruction between Tata Communications Limited & Hemisphere Properties India Limited on 12.07.2018 and 05.08.2018 re
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