Prozone Realty Increases Stake in Downtown Retail to 26.80%

Prozone Realty Ltd announced that its management committee approved the acquisition of an additional 17.51% equity stake in Downtown Retail Malls Private Limited. This acquisition will increase Prozone Realty's total shareholding in Downtown Retail from 9.21% to 26.80%. The transaction involves a cash consideration of INR 17,510/-, with shares acquired at Rs. 10/- per share. Downtown Retail is engaged in real estate constructions and developments. The acquisition aligns with Prozone Realty's objective of expanding its business and related investments. No government or regulatory approvals are required, and the acquisition is expected to be completed within 15 days of approval.