DB Realty (DBR) is planning to acquire 2,65,707 (i.e. approximately18.35% to total share capital) nos. of Compulsory Convertible Preference Shares (CCPS) of DB (BKC) Realtors (DB BKC) from Trinity Capital (Ten), Mauritius (Seller) on the terms and conditions agreed in the Share Purchase Agreement dated October 17, 2017 and other ancillary documents executed with the Seller and / or other necessary parties.
Further, post acquisition of aforesaid CCPS by the company, DB BKC will become a subsidiary company of the company in terms with the provisions of Sec. 2(87) of the Companies Act, 2013.
DB Realty is a real estate development and construction company. The company is engaged in the construction of residential buildings/commercial complexes and activities connected and incidental thereto.