New Delhi: Sources have revealed that Anamudi Real Estates, a division of the Godrej group, intends to divest its 5 pc ownership in Sobha Ltd, valued at approximately Rs 1,000 crore in today's market.
Based on the shareholding structure, Anamudi Real Estates holds a 9.99 percent stake in Sobha Ltd. Sobha Ltd has an approximate market capitalisation of Rs 20,000 crore.
Anamudi Real Estates owns 1,06,84,682 shares in Sobha Ltd.Sources state that the Godrej Family has chosen bankers to sell 50 pc of Anamudi Real Estates' stake in Sobha Ltd. Sources have indicated that the sale of shares will probably occur on Friday via a block deal on stock exchanges. There was no immediate way to reach the Godrej family group.
Sobha Ltd stands out as a top real estate developer in the country. It recently gathered Rs 2,000 crore via a rights issue. BSV recorded Rs 1,723 crore in revenues in FY24, showing a 20 percent year-on-year increase with adjusted EBITDA Margins at 28 percent. Mankind Pharma, a major pharmaceutical company in India, primarily targets the local market. It is present in various therapeutic areas such as anti-infectives, cardiovascular, gastrointestinal, and antidiabetic, both acute and chronic.
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