Peninsula Land advances on plan to acquire Rockfirst Real Estate

Peninsula Land gained 4.35% to Rs 11.28 at 15:15 IST on BSE after the company entered into a Securities Purchase Agreement to acquire 86% stake in Rockfirst Real Estate.

The announcement was made during market hours today, 28 December 2018.

Meanwhile, the S&P BSE Sensex was up 258.68 points, or 0.72% to 36,065.96

On the BSE, 5.70 lakh shares were traded in the counter so far as against average daily volume of 90,000 shares in the past two weeks. The stock had hit a high of Rs 12.10 and a low of Rs 11.17 so far during the day.

Peninsula Land said that the company has entered into a Securities Purchase Agreement to acquire 86% of the equity shares of Rockfirst Real Estate thereby making it a wholly-owned subsidiary of the company. Further the company has also, through its wholly-owned subsidiary Peninsula Holding and Investment Private (PHIPL) entered into Securities Purchase Agreements to acquire 86% equity shares of Goodhome Realty and Truewin Realty thereby making them step-down wholly-owned subsidiaries of the company.

Peninsula Land is an integrated real estate company. The company's projects include pioneering retail ventures, world-class commercial projects and residential complexes.

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