Prestige Estates Projects Limited — M&A Activity 2022

Jul 30, 2022

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	Name of the target entity, details in	Prestige Sterling Infraprojects Private Limited
1.	brief such as size, turnover etc.	is a Company incorporated in 2007 and is into
		businessofconstructionandrealestate
		development.
	Whether the acquisition will fall	This transaction does not fall withinthe
2.	within related party transaction(s)	definition of related party transaction. The
	and whether promoter/ promoter	promoter/promotergroup/group
	group have any interest in the	companies have no interest in the entity being
	transaction	acquired.
	Industry to which the entity belongs	Real Estate and Construction
3.	to
	Objects and effects of acquisition	Business reasons
4.
	Brief details of any governmental or	Not Applicable
5.	regulatory approvals required
	Indicativetimeperiodfor	Completed on July 29, 2022
6.	completion of the acquisition
	Nature of consideration	Cash consideration paid through Banking
7.		channel
	Priceatwhich shares wouldbe	Re. 117.57 Crores
8.	subscribed
	Percentage of shareholding/ no. of	2,75,00,000 equity shares i.e. 10% equity stake
9.	shares acquired	ofPrestigeSterlingInfraprojectsPrivate
		Limited.
	Brief background of the entity being	Prestige Sterling Infraprojects Private Limited
10.	acquired	is a Company incorporated in 2007 and is into
		businessofconstructionandrealestate
		development. It owns/right to own around 35
		acres of land at Off Outer Ring Road, Varthur
		Hobli, Bangalore having potential developable
		area of approximately 3.4 million sft.