Sobha Developers Ltd. said it had purchased the entire equity interest in Sobha Developers (Pune) Ltd. from Pan Atlantic Investments Ltd., in terms of the Exit Agreement signed by the company.
Post acquisition, Sobha Developers (Pune) will become a wholly-owned subsidiary of the company.
The company earlier entered into a joint venture agreement with Pan Atlantic Investments, a limited liability company registered in Dubai for the purpose of construction and development of residential townships in India. Sobha Developers (Pune) was identified as a special purpose vehicle for the aforesaid purpose. The SPV company is presently executing a residential project - 'Sobha Forest View' - situated at Hosahalli village in , Bengaluru South Taluk, Bengaluru.
Pan Atlantic Investments holding 81 percent of the paid-up capital in the SPC initially had expressed its desire to exit the investment. After negotiations, the company had agreed to buy the investment.
At the BSE, Sobha Developers shares are being traded at Rs.225, down by 0.09 percent from the previous close.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.