Godrej Properties is trading higher by 3% at Rs 638 after the company said it has sold 49% shareholding in its subsidiary, Godrej Premium Builders (GPBPL), which is developing a project at sector 104 in Gurgaon, to Sun-Apollo India Real Estate Fund for Rs 45 crore.
Sun-Apollo has invested Rs 45 crore out of which Rs 18.3 crore has been paid to GPL for sale of stake and Rs 26.70 crore has been invested in GPBPL, the Mumbai-based real estate company said in a filing to the stock exchanges.
A combined around 4,000 shares have changed hands on the counter so far on the NSE and BSE.