D B Realty Ltd Closed Rs 920 Cr QIP With Global- Domestic Investors

Valor Estate Limited’s formerly known as D B Realty’s Board of Directors approved allotment of 356.66 lakh equity shares after the successful completion of Rs 920 crore Qualified Institutional Placement (QIP) on March 14, 2024. The QIP received the requisite response from global, and domestic investors. The successful completion of the QIP reflects strong long-term fundamentals and investor confidence in the Company. In less than 2 years, the Company has completed 3 equity raises of about Rs 2,470 crores. Consequently, the consolidated net worth of the Company is now more than Rs 5,000 crores nearly a threefold increase in less than two years. This reflects a steady investor support for the business, strategy, and management.

Incorporate a new wholly owned subsidiary, Advent International Limited, to acquire the Company's substantial interests in the hospitality business (see Appendix) through an NCLT scheme of arrangement (demerger) process. Subject to the requisite approvals, each shareholder of the Company as of the demerger record date will receive shares in Advent International Ltd. and will have an identical shareholding in both listed companies. Demerger will unlock shareholder value, and enable a differentiated strategy for capital, projects, operations, and the leadership team. Post-demerger the shares of Advent International will be listed on both BSE and NSE. Ernst and Young LLP (EY) has been appointed to advise the Board on the demerger process.