Main Disclosure – Disinvestment Details
Target Entity: Purva Ruby Properties Private Limited
Percentage Stake Disinvested: 100% stake (entire shareholding)
Post-Transaction Holding: 0% (ceased to be a subsidiary)
Counterparty/Buyer: Prishal Office Parks III Private Limited, a company owned by ICICI Prudential Office Yield Optimiser Fund – AIF II (OYOF-II), a category II Alternative Investment Fund managed by its investment manager, ICICI Prudential Asset Management Company Limited.
Mode of Consideration: Cash
Valuation or Price Basis: Estimated sale value of ₹145,00,00,000 (Rupees One Hundred and Forty-Five Crores only)
Rationale for Disinvestment: Strategic divestment of wholly-owned subsidiary
Impact on the Company: Purva Ruby Properties Private Limited has ceased to be a Wholly Owned Subsidiary (WOS) of Puravankara Limited with effect from September 30, 2026. The subsidiary had negative net worth, hence its contribution toward net worth of the Company was Nil.
Business Profile of Target Entity:
- Contributed 1.06% to Puravankara Limited's annual turnover of ₹2,399,01,37,354 in the last financial year
- Net worth is negative
Related Party Status: No. The buyers do not belong to the Promoter/Promoter Group/Group Companies.
Approvals Required: No shareholder approval required as Purva Ruby Properties Private Limited is not an undertaking as defined under Section 180(1)(a) of the Companies Act 2013.
Indicative Timeline:
- Share Purchase Agreement signed on June 30, 2026
- Other connected documents completed on July 06, 2026
- Transfer of shares completed on September 30, 2026
Regulatory Compliance: The company confirms compliance with Regulation 37A of LODR Regulations.
Other Updates
No other disclosures are present in the document.