Puravankara Acquires Remaining 10.46% Stake in SPAL for ₹99,990
Puravankara Limited acquired the remaining 10.46% stake in Sobha Puravankara Aviation Private Limited (SPAL) for ₹99,990. This raises Puravankara's stake to 99.95%. SPAL operates in the Chartered Aircraft Service industry and had a FY25 turnover of ₹2,851.84 Lakhs.
The acquisition is of a subsidiary's remaining shares for a nominal amount and is not expected to impact the main business of Puravankara Limited, thus having a low impact.
The acquisition of a subsidiary's remaining shares is a routine corporate action with no significant immediate financial impact or change in business direction mentioned.
Puravankara Limited has successfully acquired the remaining 9,99,900 equity shares, representing 10.46% of the total equity, in Sobha Puravankara Aviation Private Limited (SPAL). This acquisition increases Puravankara Limited's shareholding in SPAL from 89.49% to 99.95%.
The total consideration for this acquisition is ₹99,990, with each share acquired at a nominal price of ₹0.10. The transaction was approved by the Audit Committee and the Board of Directors on January 07, 2025, and is conducted on an arm's length basis.
SPAL, a subsidiary of Puravankara Limited, is engaged in the 'Chartered Aircraft Service' industry. For the financial year 2024-25, SPAL reported a turnover of ₹2,851.84 Lakhs and had a net worth of ₹(4,326.63) Lakhs. The company was incorporated on November 30, 2010. This acquisition is not expected to have any impact on Puravankara Limited's main business.
The acquisition was completed by February 09, 2026.
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Puravankara Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by Puravankara Limited. Read the original for the full detail.