Godrej Family's Anamudi Real Estate LLP to Offload 5% Stake in Sobha Ltd via $100 Million Block Deal
Anamudi Real Estate LLP, owned by the Godrej family, is set to divest 5% of its stake in Sobha Ltd through a block deal worth $100 million.
Real EstateBlock DealSobha LtdAnamudi Real Estate LlpGodrej FamilyReal Estate NewsJul 25, 2024
Kotak Securities has been appointed as the sole banker to facilitate the block deal. Following the sale, there will be a 90-day lock-in period, during which Anamudi Real Estate LLP cannot make any further sales of Sobha shares.
Sobha Ltd, a leading real estate developer in India, has a significant presence in South India. The company reported an 86% decline in consolidated net profit to ₹7.02 crore for the quarter ended March 2024, due to lower income. Its net profit stood at ₹48.57 crore in the year-ago period. Total income also fell to ₹791.25 crore in the fourth quarter from ₹1,240.14 crore in the corresponding period of the previous year.
During 2023-24, net profit declined to ₹49.11 crore from ₹104.20 crore in the preceding year. Total income fell to ₹3,217.88 crore from ₹3,402.43 crore in 2022-23. Shares of Sobha Ltd ended at ₹1,850.00, up by ₹25.25, or 1.38% on the BSE.
Information Anamudi Real Estate LLP is a private limited liability partnership firm owned by the Godrej family. Sobha Ltd is one of the leading real estate developers in India, with a significant presence in South India.
Godrej family is a well-known business family in India, with interests in various sectors including real estate, consumer goods, and more. Kotak Securities is a leading financial services company in India, providing investment banking, equity research, and other financial services.
Frequently Asked Questions
Who is the owner of Anamudi Real Estate LLP?
Anamudi Real Estate LLP is wholly owned by the Godrej family.
What is the estimated deal size of the block deal?
The estimated deal size is around $100 million.
What is the lock-in period after the sale?
There will be a 90-day lock-in period, during which Anamudi Real Estate LLP cannot make any further sales of Sobha shares.
What is the current market price of Sobha Ltd shares?
The current market price of Sobha Ltd shares is ₹1,850.00, up by ₹25.25, or 1.38% on the BSE.
What is the business of Sobha Ltd?
Sobha Ltd is a leading real estate developer in India, with a significant presence in South India.
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