Sobha Ltd is one of the leading real estate developers in the country. It recently raised Rs 2,000 crore through a rights issue.
Credit: sobha.com
New Delhi: Anamudi Real Estates, which is a part of the Godrej family, plans to sell its 5 per cent stake -- worth around Rs 1,000 crore at the current market value -- in Bengaluru-based Sobha Ltd, sources said.
According to the shareholding pattern, Anamudi Real Estates has a 9.99 per cent stake in Sobha Ltd.
The total market capitalisation of Sobha Ltd is nearly Rs 20,000 crore.
Anamudi Real Estates holds 1,06,84,682 shares in Sobha Ltd.
According to sources, Godrej Family has appointed bankers to sell half of the total stake held by the Anamudi Real Estates in Sobha Ltd.
The share sale is likely to take place on Friday through a block deal on stock exchanges, sources said.
The Godrej family group could not be immediately contacted.
Sobha Ltd is one of the leading real estate developers in the country. It recently raised Rs 2,000 crore through a rights issue.