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D B Realty to acquire stakes in 3 hotels; details inside

26 September 20232 mins read by Angel One
On September 25, the company entered into separate Share Purchase Agreements to acquire three hotels for more than Rs 2,300 crore.
D B Realty to acquire stakes in 3 hotels; details inside
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D B Realty has entered into separate Share Purchase Agreements to acquire shares of Bamboo Hotel Global Centre (Delhi), Goan Hotels & Realty and BD and P Hotels (India) on the terms and conditions as contained therein. D B Realty will acquire 10,10,000 Class A equity shares in Bamboo Hotel for a total consideration of Rs 608.88 crore.

D B Realty will acquire 78,250 equity shares for a total consideration of Rs 1,410.68 crore in Goan Hotels & Realty, which is a wholly-owned subsidiary of MDHRPL. Separately, D B Realty will acquire 2,12,69,325 shares for Rs 339.12 crore in BD And P Hotels (India). BD and P Hotels is a subsidiary of MDHRPL, which holds a 75 per cent stake and owns the Hilton Mumbai International Airport hotel.

Incorporated in 2007, D B Realty is a real estate development company that focuses on residential, commercial, retail and other projects, such as mass housing and cluster redevelopment. Most of the projects are based in and around Mumbai and are under various stages of planning and construction.

At 2 pm, the shares of D B Realty were trading at Rs 165.25, up by 0.09% from its previous closing of Rs 165.10 on the BSE.

Today, the stock opened at Rs 166.35 and has touched a high and low of Rs 169 and Rs 162.50, respectively. The BSE group ‘A’ stock of face value of Rs 10 has touched a 52-week high and low of Rs 180 and Rs 55.05, respectively.

Last one week high and low of the scrip stood at Rs 180 and Rs 157.05 respectively. The current market cap of the company is Rs 5,810.55 crore. The promoters holding in the company stood at 53.83%, while Institutions and Non-Institutions held 2.21% and 43.94%, respectively.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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