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Ajmera Realty acquires 85% stake in Anirdesh Developers LLP; Stock gains 2%

Ajmera Realty & Infra India stock gained over 2% in the afternoon trade on the BSE. The realty company has acquired 85% stake in Anirdesh Developers LLP. Both the entities belong to the infrastructure industry.

The promoters of Ajmera Realty are partners and designated partners in Anirdesh Developers LLP. Thus, the transaction would fall under the definition of Related Party Transaction. Through this acquisition, Ajmera Realty intends to acquire infra projects through this subsidiary, as per BSE filing.

The acquisition process got completed on September 06, 2018 through capital contribution. The consideration amount towards capital contribution is Rs17 lakh. The profit-sharing ratio for the company is 85%, the company added.

The LLP got its Certificate of Incorporation (COI) on April 27, 2012. It was incorporated with the object to undertake infrastructure and real estate activities. However, no operations are initiated yet from the incorporation.

Ajmera Realty & Infra India Ltd is currently trading up 2.16% at Rs217.50 from its previous closing of Rs212.90 on the BSE.

The scrip opened at Rs215.95 and has touched a high and low of Rs221.65 and Rs215.25 respectively.

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