Godrej Properties acquired Ceear Lifespaces

Godrej Properties has recently acquired 100% issued and paid-up share capital of Ceear Lifespaces (CLPL), the company informed in a BSE filing. Post this acquisition, CLPL will undertake business of construction and development of land situated at Thane. Consequent to the said acquisition, CLPL has become a wholly owned subsidiary of the company. Total consideration of the deal was Rs 1 lakh only. It has acquired 10,000 equity shares of Rs 10 each, constituting 100% paid–up equity share capital of CLPL. Acquisition is done in accordance with the Share Purchase Agreement dated 20th March, 2020 entered into with the shareholders of CLPL.