BSEL Infrastructure Realty Ltd has informed that the company has made exit from B W
Highway Star Hotel project at Balewadi, Pune. The Company, having 2,000,000 Shares representing approximately 17% shares of the B W Highway Star Pvt. Ltd. - SPV incorporated in Joint Venture for the project. The Company has sold 1,058,824 Shares of Rs 10/- each in favour of Kamat Hotels (India) Ltd for Rs 79,411,800/- and rest 941,176 Shares of Rs 10/- each to Unity Realty and Developers Ltd (subsidiary of Unity Infraprojects Ltd) for Rs
70,588,200/-.
The project being developed by the Company in the Joint Venture with Unity Infraprojects Ltd and Kamat Hotel (India) Ltd. Clearwater Capital Pvt Ltd, Cyprus is a major shareholder of the SPV Company.
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