Anant Raj Limited has informed the Exchange about Acquisition
ANANTRAJ · price
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Anant Raj Limited's Finance and Investment Committee has approved acquiring 12,500 equity shares (25% stake) in Romano Projects Private Limited (RPPL) for Rs. 3,58,12,500 in cash. The company already held 75% in RPPL and after this acquisition, RPPL will become a wholly owned subsidiary. RPPL is a land-owning real estate company holding lands in Sector 63A, Gurugram as part of the 'Anant Raj Estate' township. This is classified as a related party transaction being conducted at arm's length based on an independent valuer's report. The acquisition aims to achieve complete ownership, operational synergies, and enhanced managerial control over the subsidiary.
This acquisition increases Anant Raj's control over its real estate operations and land bank, which could positively impact shareholder value through streamlined decision-making and better asset utilization. The all-cash deal at Rs. 35.81 crore is a relatively small transaction relative to the company's scale.