Prestige Estates to buy Allure Developers for ₹523.76 crore
In short
Prestige Estates Projects will acquire Allure Developers for up to ₹523.76 crore.
Allure is working on a residential project in Sector 150, Noida, and the deal is expected to finish within seven working days. The purchase gives Prestige control of the company.
What the reporting says
Prestige Estates Projects agreed to acquire 100% of Allure Developers for up to ₹523.76 crore and make it a wholly owned subsidiary. CNBC TV18’s summary says Allure is developing a residential project in Sector 150, Noida, and the transaction is expected to close within seven working days. The acquisition gives Prestige control over the project vehicle.
Why it matters
Prestige Estates Projects agreed to buy 100% of Allure Developers for up to ₹523.76 crore, making Allure a wholly owned subsidiary. The CNBC TV18 summary says Allure is handling a residential project in Sector 150, Noida, and the deal should be completed within seven working days. The acquisition expands Prestige’s project control in Noida and is relevant to the real estate sector.