Parsvnath Developers has acquired 12,25,000 Class B Shares and 1,54,17,500 Fully Convertible Debentures of Parsvnath Estate Developers (PEDPL), a subsidiary company and SPV, from City Centre Monuments, Mauritius.
This step has been taken pursuant to Security Purchase Agreement dated May 23, 2016 entered by the company. Consequently, PEDPL has become wholly owned subsidiary of the company. PEDPL is implementing the project for development of an office complex on a plot of land admeasuring 15,583.83 square meters situated at Bhai Veer Singh Marg, New Delhi. Parsvnath Developers has diversified portfolio, which includes, integrated townships, group housing, commercial complexes, hotels, IT parks, among others.