Acquisitions24 Apr 2026, 07:14 pm
Sunteck Realty Acquires 100% Stake in Tanirika Infra
AI Summary
Sunteck Realty Ltd has acquired 100% stake in Tanirika Infrastructure Private Limited (TIPL) for ₹22.40 Crore. The acquisition was formalized through a Share Purchase Agreement (SPA) executed on April 24, 2026. Following the acquisition, TIPL has become a wholly-owned subsidiary of Sunteck Realty. TIPL owns a property in Nepean Sea Road, South Mumbai, and the acquisition aligns with Sunteck's objective of developing the property, part of which is already owned by Mithra Buildcon Private Limited, another wholly-owned subsidiary of the company.
Key Highlights
- Sunteck Realty acquires 100% stake in Tanirika Infrastructure Private Limited (TIPL).
- The acquisition cost is ₹22.40 Crore at an enterprise value.
- TIPL becomes a wholly-owned subsidiary of Sunteck Realty post-acquisition.
- Acquisition aligns with Sunteck's development objective for TIPL's property in South Mumbai.
- TIPL's turnover for FY 2025-26 was ₹6,00,000.