Peninsula Land Acquires RR Mega City Builders
Peninsula Land Limited through its subsidiary Peninsula Holding and Investment Private Limited (PHIPL) has entered into a Securities Purchase Agreement to acquire 71 % Equity shares of RR Mega City Builders Limited, thereby making it a step-down subsidiary of the Company. The details of the acquisition are mentioned below:
| Particulars | Details |
| Name of the target entity | RR Mega City Builders Limited |
| size (Net worth / Assets) as per last balance sheet | Rs. 15.94 Crores [the networth is negative by (Rs.12.76 Cr.) excluding deemed equity of Rs. 28.70 Cr. arising due to transition to IndAS.] |
| Turnover as per last Balance Sheet | Rs. 28.89 Crores |
| Industry of RR Mega City Builders Limited | Real Estate and Construction. |
| Objects and effects of the acquisition | Enhancement of interest in Real Estate Project Company. |
| Cost of acquisition | Rs. 710/- (Seven Hundred and Ten only) |
| Number of Shares and Percentage of holding | 71000 Equity Shares amounting to 71 % of the Share Capital of the Company. |
