Vipul Checks Out: ₹2 Crore Bagged in Real Estate Stake Sale

Real estate firm Vipul Ltd today announced the receipt of ₹20 million (₹2 crore) from sale of its stake in Choice Real Estate Developers, as another incremental step towards its ongoing strategy of de-grouping and monetizing non-core assets.

 

The company announced that it will sell its stake in the associate company, but the quantum of the stake and buyer details are not disclosed. This followed a series of similar Vipul Ltd deals in the past few months, including the sale of stakes in subsidiaries like High Class Projects and Mudra Finance Ltd, as part of its overall restructuring and capital optimization.

 

Gurugram-located Vipul Ltd has been actively re-fashioning its portfolio with an eye towards core realty development projects and off-loading non-core investments. The consideration of ₹2 crore of this recent transaction is expected to increase the company's liquidity and operating flexibility. 

 

Sources of Relevance: ET Now, MoneyWorks4Me, ICICI Direct