Pirojsha Godrej Acquires Stake in Arvind SmartSpaces

Pirojsha Adi Godrej purchased a 1.78% stake in Arvind SmartSpaces for Rs 40.7 crore via an open market transaction from HDFC Capital's affiliate. Pirojsha, who holds leadership positions in various Godrej entities, acquired 8,17,530 shares at Rs 498 each while Arvind SmartSpaces' shares slightly dipped on the BSE.

Pirojsha Adi Godrej made a strategic investment on Monday by acquiring a 1.78% stake in Arvind SmartSpaces for Rs 40.7 crore. The shares were purchased from an affiliate of HDFC Capital in an open market transaction.

This move solidifies Pirojsha's commitment to expanding Godrej's real estate footprint. Holding key positions like Executive Chairperson of Godrej Properties and Godrej Housing Finance, Pirojsha's investment marks a significant addition to his real estate portfolio.

The shares bought, amounting to 8,17,530, were acquired at an average price of Rs 498 each. While HDFC Capital's affiliate exited its position, Arvind SmartSpaces' shares saw a minor drop of 1.02% on the BSE, closing at Rs 500.90 per share.

(With inputs from agencies.)