As the saying goes, whatever the riches put their hand to, gold results. One such incident happened with DB Realty (DB Rey). The share price of this floundering company has suddenly skyrocketed. has risen so much that prices have reached the upper 5 percent circuit. Today one share is being sold at 93.70 taka. But what is the reason for this sudden rise? There is a big reason behind this. DB Realty’s joint venture Radius Estates and Developers Private Limited has been bought by Gautam Adani.
But suddenly why did Adani go to buy a company? What was the deal between them? Adani Goodhomes has reportedly bought an insolvent company like Radius Estates and Developers Pvt. According to sources, Adani Group has offered to buy this company for 319.7 million rupees. MIG Realtors & Builders is a part of DB Realty.
For this reason they informed that the National Company Law Tribunal has accepted the resolution plan of Adani Goodhomes. Adani Group plans to take up ten BKC projects after this new deal. Bandra Kurla Complex or BKC houses the headquarters of various local and international banks. Besides, it is located very close to Dharavi, the world’s largest slum. Adani got the contract to rebuild this slum.
Bandra Kurla Complex is spread over 5 acres of land. It will generate 25 billion rupees in revenue once its construction is completed. Experts think so. For this reason, the real estate firm said that its subsidiary Goregaon Hotel and Realty Pvt Ltd has entered into a loan settlement agreement. They are doing this settlement with Reliance Commercial Finance Limited.
DB Realty said all parties have agreed to settle all claims. Also DB Realty and its subsidiary Goregaon Hotel & Realty Pvt Ltd entered into an agreement with Reliance Commercial Finance Pvt.