Authum Investment Acquires Creatoz Builders for Rs. 42.93 Crore in Real Estate Deal
Authum Investment & Infrastructure Ltd has emerged as the Selected Resolution Applicant and/or Successful Resolution Applicant for the acquisition of Creatoz Builders Private Limited (CBPL). The deal is subject to the approval of the National Company Law Tribunal and/or any other Courts or Tribunal under Applicable Laws. The transaction is valued at approximately Rs. 6 crore, including Rs. 5 lakh for equity infusion for 50,000 shares of Rs. 10 face value. Creatoz Builders Private Limited is a real-estate company undergoing Corporate Insolvency Resolution Process (CIRP) and has developed a residential housing project, Jade Residency, in Wagholi, Pune. The latest financial available as on March 31, 2018, shows a turnover of Rs. 42.93 crore for CBPL.
Key Highlights
- Authum Investment has acquired Creatoz Builders Private Limited for approximately Rs. 6 crore.
- The acquisition is part of a real-estate deal and involves the development of the Jade Residency project in Wagholi, Pune.
- Creatoz Builders Private Limited is undergoing Corporate Insolvency Resolution Process (CIRP) and the deal is subject to the approval of the National Company Law Tribunal and/or any other Courts or Tribunal under Applicable Laws.
- As per the latest financial available as on March 31, 2018, the turnover of Creatoz Builders Private Limited was Rs. 42.93 crore.
- The acquisition allows Authum Investment to capitalize on the value of the underlying assets and generate revenue through monetization.