Kolte Patil Developers has entered into Share Purchase Agreement with ICICI Venture Funds Management Company (Fund Managers of India Advantage Fund III & IV) to acquire 50% Equity Stake in Kolte-Patil l-Ven Townships (Pune). The objective of the acquisition is to increase the controlling stake from 45% to 95% in KPIT. The cost of acquisition is Rs 140 crore.
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