Marathon Nextgen Realty Acquires 60% Stake in JV for ₹335 Cr
Marathon Nextgen Realty Ltd announced the acquisition of an additional 60% stake in its joint venture, Swayam Realtors and Traders LLP (SRTL), for full economic interest in the Monte South Project, Byculla. The total consideration for the acquisition is up to ₹335 crores, comprising ₹135 crores in cash and a ₹200 crores bank guarantee. This move is intended to enhance MNRL's economic interest and participation in the LLP's future business activities and returns. The transaction is expected to be completed within two months from the time of requisite approvals. The Board also approved material related party transactions for investment in, or loans/guarantees to, SRTL, subject to shareholder approval.
Key Highlights
- Acquires additional 60% stake in JV Swayam Realtors and Traders LLP.
- Total consideration up to ₹335 crores (₹135 Cr cash + ₹200 Cr bank guarantee).
- Enhances economic interest in Monte South Project, Byculla.
- Acquisition expected to complete within two months.
- Related party transactions for JV also approved, subject to shareholder nod.
Price Impact
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