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D B Realty hikes its stake in DB BKC Realtors

Capital Market 

D B Realty announced that the company currently holds approx. 57.17% stake (including equity and preference shares) in DB BKC Realtors (DB BKC).

The company has acquired entire Redeemable Optionally Convertible Cumulative Preference Shares (ROCCPS) and Compulsorily Convertible Preference Shares (CCPS) of DB BKC (i.e. approx. 9.18% to total share capital of DB BKC) being held by Trinity Capital (Ten), Mauritius (Seller) on the terms and conditions as agreed.

Post acquisition of aforesaid shares by the Company, total shareholding of the Company in DB BKC will increase to 66.35% to total share capital of DB BKC.

The Company holds convertible instruments which it may convert in due course of time.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, November 16 2019. 16:18 IST