Godrej Industries Group sells 5% stake in Sobha for Rs 858 crore
Anamudi Real Estates, the family office entity of Godrej Industries Group, has sold 47.4 lakh shares or 5 per cent equity in Bengaluru-based realty company Sobha Ltd for around ₹858 crore through bulk deals on the BSE, exchange data showed. The shares were sold at Rs 1810.44 apiece, a discount of 2.8 per cent to the closing price of the company on Thursday. Sobha’s shares ended 3.8 per cent lower at ₹1792.35 on the BSE on Friday. Shares of Sobha have fallen 7.3 per cent since June, though they have appreciated 16 per cent from April 1.
Cochin Port unions seek fund allocation to meet dredging expenditure
Cochin Port Joint Trade Union Forum has requested the Centre to grant fund allocation to defray the full dredging expenditure both for capital as well as maintenance of the channel. CD Nandakumar, general convenor of the Forum cited an IPA committee report in this regard which recommended financial support to the port to meet the dredging expenditure. The committee noted that the annual maintenance dredging cost is much higher than the permissible level in terms of financial outgo and the port required dredging throughout the year to maintain a safe navigable channel. The quantity of silt to be removed was approximately 20 to 28 million cubic metre annually, he said.
Godrej Properties raises Rs 1,275 cr via non-convertible debentures
In a regulatory filing on Friday, the company said the allotment committee of the board of directors of the company approved the allotment of 93,540 unsecured redeemable NCDs of the face value of Rs 1 lakh each, aggregating to Rs 935.40 cr.
