HDFC & HDFC Life Acquire Stake in Xanadu Realty
Housing Development Finance Corporation Limited acquired 612 shares of Xanadu Realty representing 5.46 per cent of paid-up equity share capital through conversion of 938 compulsorily convertible debentures held in Xanadu, the company announced through an exchange filing. The shares were acquired at Rs 4,08,501 per share aggregating to a total of Rs 25 crore. HDFC Life has acquired 613 equity shares of Xanadu Realty Limited (“Xanadu”) representing 5.46 percent of its paid?up equity share capital upon conversion of compulsorily convertible debentures held by HDFC Life in Xanadu. The face value of the equity shares will be Rs 10 each. Xanadu is inter alia engaged in sales, marketing and project management consulting services for real estate. Xanadu advises and assists real estate developers in providing strategic sales related and go-to-market guidance, and marketing operations services to garner their business and assist them in the market launch in respect of their real estate projects. planning, visualization and quality delivery. The aggregate revenue of Xanadu Realty during FY 2021-22 was at Rs. 143.90 crore and the balance sheet size as on March 31, 2022 was Rs. 225.79 crore.
Tags : Housing Development Finance Corporation Limited acquired shares Xanadu Realty debentures company HDFC Life sales marketing project management consulting services real estate developers strategic planning visualization