Godrej Family's Anamudi Real Estates to Offload 5% Stake in Sobha Ltd

Anamudi Real Estates, a division of the Godrej family, is set to sell its 5% stake in Sobha Ltd, valued at Rs 1,000 crore. The sale will occur through a block deal on stock exchanges. Anamudi's current holding in Sobha Ltd is 9.99% of the total market capitalisation of Rs 20,000 crore.

Anamudi Real Estates, a branch of the Godrej family, is gearing up to divest its 5 percent stake in Sobha Ltd, a deal estimated to be worth approximately Rs 1,000 crore at current market values, sources revealed.

The latest shareholding data indicates that Anamudi Real Estates currently holds a 9.99 percent stake in the Bengaluru-based real estate giant, Sobha Ltd, whose market capitalisation hovers around Rs 20,000 crore.

With a total holding of 1,06,84,682 shares, the Godrej family has engaged bankers to facilitate the sale of half of their stake through a block deal on stock exchanges, anticipated to transpire on Friday, according to insider sources.

Efforts to reach the Godrej family group for comment were unsuccessful. Sobha Ltd, a prominent real estate developer, recently bolstered its financial standing with Rs 2,000 crore through a rights issue.

(With inputs from agencies.)