"D B Realty Sells Stake in Real Gem BuildTech Project for INR 231.42 Crore, Stock Soars"

D B Realty Ltd. experienced a remarkable 4.94 percent surge in its shares following the successful divestment of its entire 100 percent stake in Real Gem BuildTech Pvt Ltd. (RGBPL) for an impressive sum of approximately Rs. 231.42 crore. The transaction, facilitated through a share purchase agreement, was executed on November 6, 2023, with Kingmaker Developers Pvt Ltd. (KDPL), an entity affiliated with the esteemed Rustomjee Group.

D B Realty's strategic decision to part with its stake in RGBPL is expected to have a positive impact on the company's free cash flow, enhancing its overall financial outlook. Furthermore, this transaction will result in the removal of RGBPL from the DBR Balance Sheet, simplifying the company's financial structure and marking the successful conclusion of the deal with Rustomjee. This development has garnered significant attention from investors, reflecting in the notable increase in the company's stock value.

HBL