The Great Real Estate Reboot: Aditya Birla's Vardhita Properties Changes Hands

Aditya Birla Real Estate Limited (ABREL) has made a noteworthy announcement regarding a change in its corporate structure. The Board of Directors has okayed the sale of its 100% holding in Vardhita Properties Private Limited (VPPL) to Birla Estates Private Limited (BEPL), both wholly-owned subsidiaries of ABREL. This deal, to be finalized by 31st December, 2024, will have VPPL stop being a direct wholly-owned subsidiary of ABREL and turn into a step-down wholly-owned subsidiary. The transaction consists of 5 lakh equity shares of VPPL at face value of Rs. 10 per share, for aggregate consideration of Rs. 9,18,444. This is one of ABREL's series of steps in streamlining its corporate structure and maximizing its real estate operations.

 

Source: Aditya Birla Real Estate Limited