Adar Poonawalla's Firm Buys 1.75 Lakh Sq Ft Office Space in Pune for ₹395 Crore
Rising Sun Holdings Private Limited, owned by billionaire Adar Cyrus Poonawalla, has acquired a massive office space in Pune's Kalyani Nagar area.
PuneOffice SpaceAdar PoonawallaRising Sun HoldingsReal EstateReal Estate PuneSep 23, 2024
The commercial space is spread across four floors in Cerebrum IT Park, located in Marigold Complex of Pune’s Kalyani Nagar area. Incorporated in 1993, RSHPL is an investment holding company of the Cyrus Poonawalla Group. Adar Cyrus Poonawalla, who is also the CEO of vaccine major Serum Institute of India, holds a majority stake in the company.
The said commercial space is spread across four floors, spanning a built-up area of 2.19 lakh square feet in Building B1 of Cerebrum IT Park, located in Pune’s Kalyani Nagar. The deal also includes parking space for a total of 218 cars across the basement units of buildings B1 and B2, the documents showed. Built by Kumar Builders, Cerebrum IT Park is spread across 1 million square feet in the heart of Pune. It comprises three buildings - B1, B2 and BC - occupied by companies from diverse sectors.
The transaction, executed via four separate deals, was registered on September 11 and named Zavareh Soli Poonawalla as the seller. Zavareh Poonawalla is a businessman and brother of Cyrus S Poonawalla, the founder and CMD of Serum Institute of India.
As per details cited in the documents, the four deals collectively attracted a stamp duty of ₹27.65 crore and registration fees of ₹1.2 lakh. Queries sent to Zavareh Soli Poonawalla did not elicit a response till press time.
About Rising Sun Holdings Private Limited
Rising Sun Holdings Private Limited (RSHPL) is an investment holding company of the Cyrus Poonawalla Group, incorporated in 1993. The company is owned by billionaire Adar Cyrus Poonawalla, who also serves as the CEO of vaccine major Serum Institute of India.
About Serum Institute of India
Serum Institute of India is a leading vaccine manufacturer, founded by Cyrus S Poonawalla in 1966. The company is headquartered in Pune, India, and is one of the largest vaccine manufacturers in the world.
About Kumar Builders
Kumar Builders is a real estate development company based in Pune, India. The company has developed several residential and commercial projects in Pune, including the Cerebrum IT Park.
Frequently Asked Questions
Who is the owner of Rising Sun Holdings Private Limited?
Adar Cyrus Poonawalla, billionaire and CEO of Serum Institute of India, is the owner of Rising Sun Holdings Private Limited.
Where is the office space located?
The office space is located in Cerebrum IT Park, Marigold Complex, Kalyani Nagar, Pune.
How much did the office space cost?
The office space was acquired for ₹395 crore.
Who is the seller of the office space?
Zavareh Soli Poonawalla, businessman and brother of Cyrus S Poonawalla, is the seller of the office space.
What is the built-up area of the office space?
The built-up area of the office space is 2.19 lakh square feet.
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