Godrej Properties, a leading real estate company in India, announced today that it has increased its stake in Wonder City Buildcon from 74% to 100%. This acquisition makes WCBL a wholly-owned subsidiary of Godrej Properties effective May 26, 2023.
According to a regulatory filing, Godrej Properties acquired 2,90,21,528 equity shares of Rs 10 each, representing 26% paid-up equity share of WCBL for Rs 45.13 lakh. This acquisition was carried out in accordance with the share-purchase agreement entered into with the existing shareholder of WCBL.
WCBL, incorporated on August 30, 2013, is focused on the construction, development, and sale of residential projects in India, with its registered office in Mumbai.
This acquisition is expected to further strengthen Godrej Properties’ position in the Indian real estate market as the company continues to expand its portfolio through strategic acquisitions.
