Eldeco Housing and Industries sells 100 pc stake in Swarnim Nirman

New Delhi, Mar 14 () Real estate firm Eldeco Housing and Industries on Saturday said it has sold 100 per cent stake in its arm Swarnim Nirman to Eldeco Infrastructure and Properties.

"The Company today i.e. March 14, 2020 has sold 10,000 equity shares i.e. 100% of the total equity capital of its wholly owned subsidiary Swarnim Nirman Private Ltd," it said in a BSE filing.

According to the statement, the buyer does not belong to the promoter/promoter group. The company has received a consideration of Rs 1 lakh for disposing of its entire stake in the arm, it said.

It also said the deal is not a related party transaction. KKS ABM