Puravankara Completes Connected Transaction Documents for Sale of Subsidiary Stake
Puravankara Limited has provided an interim update on the sale and transfer of its 100% paid-up equity shareholding in Purva Ruby Properties Private Limited, a Wholly Owned Subsidiary (WOS). The connected transaction documents related to the Share Purchase Agreement (SPA) were completed on July 6, 2026.The transaction involves selling the WOS stake to Prishal Office Parks III Private Limited. Details provided indicate that the Share Purchase Agreement was signed on June 30, 2026, and the completion of related connected documents occurred on July 6, 2026.
Details regarding the transaction, including the financial standing of the subsidiary and the buyers, are outlined below:
| Particulars | Details |
|---|---|
| WOS Turnover | ₹25,38,89,035/- |
| Parent Company Turnover | ₹ 2399,01,37,354/- |
| Turnover Contribution (%) | 1.06% |
| WOS Net Worth | Negative (Contribution to Company: Nil) |
| Agreement Signing Date | June 30, 2026 |
| Transaction Completion Status | Connected documents completed on July 06, 2026 |
The estimated sale value for the WOS is approximately ₹ 145,00,00,000/- (Rupees One Hundred and Forty-Five Crores only).
Prishal Office Parks III Private Limited is the designated buyer. The company is owned by ICICI Prudential Office Yield Optimiser Fund - AIF II ('OYOF - II'), a category II Alternative Investment Fund managed by ICICI Prudential Asset Management Company Limited. The buyers do not belong to the Promoter or Promoter Group of Puravankara Limited.
The transaction is noted as being outside related party transactions and outside a Scheme of Arrangement, as Purva Ruby Properties Private Limited is not an undertaking under Section 180(1)(a) of the Companies Act 2013. The expected date of completion for the sale remains within 45 days from the date of Board approval.
PURVA Stock Price Movement
Puravankara Limited settled today, edging higher to close at ₹221.72 after gaining 0.05%. The stock recorded a total traded volume of 111,000 shares in the session.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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