The acquisition of Festivalvalley Developers Private Limited by Prozone Realty's subsidiary Empire Mall marks a consolidation move in the Indian real estate sector, though the nominal transaction value suggests a strategic restructuring rather than a major capital deployment.
Empire Mall Private Ltd, a wholly-owned subsidiary of Mumbai-based Prozone Realty Limited, has completed the acquisition of a 100 per cent stake in Festivalvalley Developers Private Limited (FVDPL).
The transaction was executed through the purchase of 10,000 equity shares at ₹10 per share, resulting in a total cash consideration of ₹1 lakh (approximately $1,200).
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