Prestige Estates Projects Limited Acquires 50% Stake in Real Estate Developer Advent Convention and Hotels International Limited
Prestige Estates Projects Limited has entered an investment agreement aimed at acquiring a 50% stake in Advent Convention and Hotels International Limited. The acquisition involves a cash consideration of up to Rs. 504 crores, which the Company or its wholly owned subsidiary will infuse.The transaction involves Prestige Estates acquiring a majority interest in Advent Convention and Hotels International Limited, a company involved in real estate development.
The investment is tied to a commercial project that the target entity is undertaking. The project is situated on land measuring 21,978.22 sq. mts. located at Sahar, Village - Andheri, Taluka - Andheri East, District - Mumbai Suburban District. This development entails a total leasable area of approximately 1.50 million sq. ft., boasting a Gross Development Value (GDV) estimated at approximately Rs. 4,500 Crores.
Advent Convention and Hotels International Limited is a Public Limited Company that was incorporated in 2024 and operates in the real estate development industry. The company reported Nil turnover for its business across both FY 2025-26 and FY 2024-25.
The acquisition timeline indicates that the transaction is expected to be completed within 45 days from the date of the agreement, unless the terms are mutually modified by both parties. The nature of consideration for this stake acquisition is Cash Consideration.
Details regarding the investment and target entity have been summarized below:
| Metric | Details |
|---|---|
| Target Entity | Advent Convention and Hotels International Limited |
| Acquisition Stake | 50% in Advent Convention and Hotels International Limited |
| Investment Amount (Cash) | Up to Rs. 504 crores |
| Project Location | Sahar, Village - Andheri, Taluka - Andheri East, Mumbai Suburban District |
| Total Land Area | 21,978.22 sq. mts. |
| Leasable Area (Project) | Approx. 1.50 million sq. ft. |
| Gross Development Value (GDV) | Approx. Rs. 4,500 Crores |
| Transaction Timeline | To be completed within 45 days of the agreement date |
PRESTIGE Stock Price Movement
Prestige Estates Projects Limited shares settled lower today, shedding 0.33% to close near the ₹1668.5 mark in post-market trading. The equity traded within a defined range during the session, moving between a low of ₹1647.8 and an intraday high of ₹1698.9.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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