Macrotech Developers Acquires 50% of Siddhivinayak Realties for 251 Crores

Macrotech Developers Ltd, through a wholly owned subsidiary, has acquired 50% of the paid-up equity capital and other securities of Siddhivinayak Realties Private Limited for a consideration of 251 crores. The acquisition does not involve any related party transactions or promoter/promoter group interests. Siddhivinayak Realties, a real estate company, has net worth of 838.87 crores and no turnover as of March 2023. The acquisition is expected to be completed within a week.