Pirojsha Adi Godrej buys nearly 1.8 pc stake in Arvind SmartSpaces for Rs 40.7 cr

New Delhi, Mar 9 (PTI) Pirojsha Adi Godrej on Monday bought nearly 1.8 per cent stake in real estate developer Arvind SmartSpaces for Rs 40.7 crore from an affiliate of HDFC Capital through an open market transaction.

Pirojsha Godrej is the Executive Chairperson of Godrej Properties, Godrej Housing Finance and a Non-Executive Director at Godrej Consumer Products and Godrej Agrovet.

According to the block deal data available on the BSE, Pirojsha Adi Godrej purchased 8,17,530 shares representing a 1.78 per cent stake in Ahmedabad-based Arvind SmartSpaces.

The shares were acquired at an average price of Rs 498 apiece, taking the transaction value to Rs 40.71 crore.

Meanwhile, HDFC Capital's affiliate HDFC Capital Affordable Real Estate Fund-1 sold an equal number of shares at the same price.

Shares of Arvind SmartSpaces slipped 1.02 per cent to close at Rs 500.90 per piece on the BSE. PTI HG HG BAL BAL