Puravankara Limited saw its stock rise by 2.64%, reaching ₹229.00 on February 19, 2025, after the company announced the completion of its acquisition of 37,80,000 equity shares (39.54%) of Sobha Puravankara Aviation Private Limited (SPAL), a company operating in the chartered aircraft services industry. The acquisition increases Puravankara’s stake in SPAL from 49.95% to 89.49%.
The shares were acquired at a nominal price of ₹0.10 per share, totaling ₹3.78 lakh. This acquisition is a part of the company’s continued efforts to expand its interests, furthering its business portfolio.
Puravankara Limited, listed under the code 532891, had a market capitalization of ₹54.57 billion as of the latest trading session, and its stock has been consistently active on the NSE. The company is expected to benefit from this increased stake in SPAL, potentially strengthening its position in the aviation sector.
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