Sobha said that its wholly owned subsidiary Sobha Highrise Ventures has acquired 100% equity shares of Annalakshmi Land Developers at Rs 175.16 per share.
With the acquisition of shares, Annalakshmi Land Developers has become wholly owned subsidiary of Sobha Highrise Ventures.
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Annalakshmi Land Developers was incorporated on 20 January 2007 with main objects of construction objects. The company is holding land parcel for future development.
The announcement was made after market hours yesterday, 19 January 2021. Shares of Sobha jumped 7.77% to settle at Rs 482.45 yesterday.
Sobha is a real estate player primarily focused on residential and contractual projects.
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