General Disclosure pertaining execution of Share Purchase Agreement ("SPA") and Investor Cum Shareholders'' Agreement relating to sale of stakes in M/s. Farewell Real Estate Private Limited- ....
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B-Right Realestate has executed a Share Purchase Agreement to sell 41.46 lakh equity shares (60% of paid-up capital) of its subsidiary Farewell Real Estate Pvt Ltd to Yogi Limited and two individual buyers for Rs.10 face value each. Along with this, an Investor Cum Shareholders' Agreement has been signed where B-Right continues as 'Promoter 1' holding the remaining stake, and Yogi Limited joins as the 'Investor'. The funds will be deployed exclusively in a Slum Rehabilitation (SRA) project at LBS Marg, Mulund West, Mumbai, covering 18,271.70 sq.mtrs with rehabilitation and free-sale components totalling over 1.4 lakh sq.mtrs. The project has an estimated Gross Development Value of Rs. 2,000 crore and is being executed under DCPR 2034 guidelines. The deal is subject to necessary approvals and follows an earlier disclosure dated 19th February 2025.
B-Right has diluted its holding from 100% to 40% in the subsidiary but retained a meaningful stake, effectively converting a wholly-owned project into a joint venture. This brings in a capital partner for a large Rs. 2,000 crore GDV project without B-Right bearing full funding risk, which could be positive for shareholders if execution accelerates.