NCC enters into Share Purchase agreement with GRPL Housing
1st Apr 2022

NCC along with other shareholders of NCC Vizag Urban Infrastructure (NCCVUL) (Subsidiary Company) have entered into a Share Purchase agreement (SPA) with GRPL Housing (Gardencity Realty Group, Bangaluru) to sell and transfer their entire shareholding in NCCVUL to GRPL Housing.

Upon completion of the aforesaid transaction in terms of the SPA, the Company shall transfer its entire shareholding in NCCVUL and NCCVUL will cease to be a subsidiary of the Company. The total consideration received by the company is Rs 199.50 crore and which will be received in 4 installments. The 1st payment of Rs 47.50 crore will be on March 31, 2022, Rs 52.25 crore September 30, 2022, Rs 52.25 crore on December 31, 2022 and the balance Rs 47.50 crore on March 31, 2023.

NCC is engaged in development of real estate. The company’s projects stand on credentials of its work in various sectors such as Housing, Transportation, Power, water, Metals and Oil and gas.