Corporate News     01-Jun-21
Board of Puravankara approves divestment of WOS - Vagishwari Land Developers
On 31 May 2021
The Board of Puravankara at its meeting held on 31 May 2021 has approved a proposed transaction for the sale of all the shares of its wholly owned subsidiary, i.e., Vagishwari Land Developers for an amount of approx. Rs.150 crore (proposed transaction).

The wholly owned subsidiary has the right to purchase the land parcel situated at OMR, Bangalore from the Company and the Board has approved to sell the said land prior to completion of the proposed transaction.

As part of the proposed transaction, the then outstanding liabilities of approx. Rs.350 crore of the WOS towards the Company will also be paid.

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