Puravankara surges on acquiring additional 39.54% stake in Sobha Puravankara Aviation
Puravankara is currently trading at Rs. 233.00, up by 9.30 points or 4.16% from its previous closing of Rs. 223.70 on the BSE.
The scrip opened at Rs. 220.05 and has touched a high and low of Rs. 234.40 and Rs. 215.35 respectively. So far 7474 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 565.00 on 03-Jul-2024 and a 52 week low of Rs. 175.05 on 13-Mar-2024.
Last one week high and low of the scrip stood at Rs. 258.80 and Rs. 215.35 respectively. The current market cap of the company is Rs. 5275.39 crore.
The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 18.10% and 6.91% respectively.
Puravankara has acquired 37,80,000 equity shares of Rs 10 each (39.54%) of Sobha Puravankara Aviation (SPAL) held by Sobha Projects and Trade. As a result of this acquisition, the shareholding of Puravankara in SPAL has increased from the present 49.95% to 89.49%.
Sobha Puravankara Aviation is engaged in ‘Chartered Aircraft Service’ Industry.
Puravankara is a leading real estate company in India, with a presence in Bengaluru, Kochi, Chennai, Coimbatore, Mangaluru, Hyderabad, Mysore, Mumbai and Pune.
