Puravankara Limited Approves Sale of 100% Stake in Subsidiary for ₹145 Crores
Puravankara Limited has approved the sale and transfer of its entire 100% paid-up equity shareholding in Purva Ruby Properties Private Limited. The transaction involves selling the subsidiary to Prishal Office Parks III Private Limited at a valuation of ₹145,00,00,000/- (Rupees One Hundred and Forty Five Crores only).Following the successful completion of the sale, Purva Ruby Properties Private Limited will cease to be the Wholly Owned Subsidiary (WOS) of Puravankara. The Company is currently in the process of finalizing and executing the Share Purchase Agreement (SPA), which is anticipated within 45 days from the date of board approval.
Prishal Office Parks III Private Limited, the buyer, is a company owned by ICICI Prudential Office Yield Optimiser Fund - AIF II ('OYOF - II'), an Alternative Investment Fund managed by ICICI Prudential Asset Management Company Limited. The buyers are not affiliated with the Promoter or Promoter Group/Group Companies of Puravankara Limited.
The transaction details and financial contributions related to the sale of the WOS subsidiary, as approved during the board meeting held on June 26, 2026, are summarized below:
| Particulars | Details |
|---|---|
| Expected Sale Value (Consideration) | Estimated at ₹145,00,00,000/- (Rupees One Hundred and Forty-Five Crores only). The Consideration amount will be received post execution of the SPA. |
| WOS Turnover | Purva Ruby Properties Private Limited generated a turnover of ₹25,38,89,035/-, which contributes 1.06% to Puravankara Limited's total turnover of ₹2399,01,37,354/-. |
| WOS Net Worth | The net worth of Purva Ruby Properties Private Limited is negative, resulting in Nil contribution towards the Company's net worth from this unit. |
The transaction was approved by the Board of Directors and is proceeding toward the final execution of the SPA within the stipulated 45-day period.
PURVA Stock Price Movement
Shares of Puravankara Limited slipped by 1.20% on Thursday, settling at ₹212.97 after shedding ₹2.57 from the previous close. The stock saw a traded volume of 59,621 shares during 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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