Page 7 - ப்ரெஸ்டீஜ் தோட்டங்கள் ப்ராஜெக்ட்ஸ் News Today : Breaking News, Live Updates & Top Stories | Vimarsana
Prestige Estates to take over $1 4-billion project from bankrupt firm
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Share Market LIVE Updates: Sensex opens 337 pts lower, Nifty at 14,712; SBI, ICICI Bank, ONGC top losers
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Prestige Estates Projects rose 2.13% to Rs 296.65 after the realty firm on Wednesday announced that it has completed phase 1 of proposed transaction with Blackstone Group.The enterprise value forming part of phase 1 is approximately Rs 7467 crore out of the total enterprise value of approximately Rs 9160 crore as mentioned in the initial disclosure. Phase 1 of the transaction includes sale of twelve assets/undertakings comprising of completed retail, office, hotel assets. Phase 2 of the transaction is expected to get completed by the end of next quarter.
Prestige Estates said the overall transaction (Phase1&2) includes 100% stake sale in 6 completed office projects (include a hotel), 50% stake sale in four under construction projects and 85% stake sale in 9 Shopping malls.
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Nifty futures on the Singapore Exchange traded 4 points, or 0.03 per cent, lower at 15,415 in signs that Dalal Street was headed for a tepid start on Friday. Here are a few stocks which may buzz the most in today s trade:
SBI: State Bank of India (
SBI) will conduct e-auctions of 12 bad accounts this month to recover dues of over Rs 506 crore under sale to asset reconstruction company (ARC) mechanism.
Housing: At least two existing overseas investors in PNB Housing Finance – the Carlyle Group and General Atlantic Singapore – are believed to have hired consultants to carry out a due diligence on the mortgage lender, which is looking to tap these investors for equity expansion.
Prestige Estates completes phase 1 of Blackstone deal; stock hits new peak
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