Pursuant to the said acquisition, VLDPL has become an associate company of Godrej Projects Development and consequently of Godrej Properties.
The acquisition is being done for a cash consideration of Rs 29.99 crore and 200 equity shares of Rs 100 each, representing 20% paid-up equity share capital of VLDPL, were allotted to Godrej Projects. The shares of VLDPL were acquired on 10 June 2021.
Vagishwari Land Developers, incorporated in 2015, is primarily engaged in the business of development of real estate properties, including for residential and commercial use in India, having its registered office in Hyderabad. The paid-up capital of VLDPL is Rs 1 lakh. The total income of VLDPL for the year ended 31 March 2021 was Nil.
Godrej Projects Development along with other investors intend to develop a real estate project on the land owned by VLDPL.
Godrej Properties is engaged in construction and real estate development. The real estate major's consolidated net loss stood at Rs 191.62 crore in Q4 FY21 as against net profit of Rs 102.39 crore in Q4 FY20. Net sales slumped 62.80% YoY to Rs 432.64 crore in Q4 FY21.
The scrip shed 0.05% to currently trade at Rs 1437.60 on the BSE.
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Beware of fraudulent tips, unauthenticated news and advice on stock market.
At BOB Capital, your account security is our topmost priority. Beware of receiving fraudulent communications, unauthenticated trading tips and unsolicited calls on trading in stocks from unverified sources, received through Whatsapp, Telegram, SMS, Calls, etc and take an informed decision before investing.
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Valued Customer,
BOB Capital Markets Limited (BOBCaps) is firmly committed to the safety of your wealth. We would like to bring to your notice certain precautions that you certainly must take against potential tele-fraudsters/ unscrupulous and unregistered portfolio managers:
ALWAYS AVOID
We would like to caution you against such fraudulent calls and SMSes and urge you to be alert. Follow the golden rule:
Do not share your Login Credentials or Passwords with anybody
BOBCaps employees / representatives never ask for your password.
Certain tele-fraudsters / unscrupulous and unregistered portfolio managers call customers or SMS them on the pretext of providing investment tips and lure them to invest through their bogus firms by promising huge profits.
Such deceitful callers ask the customer to share his/her login credentials with passwords to allow trading in their accounts, assuring huge returns.
Often trades done in the customer’s accounts are far from the best interest of the customers. Holdings of customers are often sold and with the funds, trades are then placed in illiquid securities at unrealistic prices.
At times, the holdings of customers are sold at prices detrimental to the customer. The so-called “portfolio manager” assures profits, which naturally does not materialize. Customers are deceived into providing access to their trading accounts, thereby allowing such fraudsters access to funds and securities available to execute trades, injurious to the customer’s interest.
In our continuous effort to keep you safeguard from the market related frauds and increase awareness while conducting trades, we request you to go through the Press Release issued by the NSE and would request you to ensure that you do not engage with the individuals and entities mentioned below: