Kolte Patil Developers to acquire balance stake in Kolte Patil Real Estate

From K2A Residential

Kolte Patil Developers announced that it will provide an exit to K2A Residential acting through it investment manager IL&FS Investment Advisors LLC (IL&FS) who is holding 49% equity shares in its subsidiary, Kolte Patil Real Estate. The exit will be provided for a total consideration of Rs 57.5 crore, which shall be serviced largely through the internal accruals of the project. Pursuant to the exit of K2A Residential, KPRE will become a wholly owned subsidiary of Kolte Patil Developers.

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