Gretex Corporate Services Launches Open Offer To Acquire Over 3.96 Crore Shares Of This Small-cap Company At Rs 25 Each; Valued At Over Rs 99 Crore
On year to date basis the stock is down by 2.29 per cent while in a year it is down by 9.27 per cent.
Gretex Corporate Services Limited, located in Mumbai, India, has announced an open offer to the public shareholders of Prozone Realty Limited. This announcement, made on April 25, 2025, concerns the acquisition of up to 3,96,76,750 fully paid-up equity shares of Prozone Realty Limited. The shares have a face value of Rs 2.00 (Indian Rupees Two) each.
The offer price is Rs 25 (Rupees Twenty-Five) per equity share. The total consideration for this acquisition, assuming full acceptance of the offer, amounts to Rs 99,19,18,750, payable in cash. The Acquirer in this offer is M/s. Apax Trust, represented by its Trustee, Mr. Nikhil Chaturvedi, along with Mr. Nikhil Chaturvedi as the Person Acting in Concert (PAC).
DSIJ's 'Large Rhino' service recommends blue chip stocks of Large Cap companies that have leadership positions in their category. If this interests you, download the service details here.
Incorporated in 2007, Prozone Realty Ltd is in the business of developing, owning and operating of Shopping Malls, Commercial and Residential Premises and providing related management consultancy services. PRL is in the business of creating, developing and managing regional shopping centres and associated mixed-use developments Pan-India. It develop large scale Land Parcels for Mixed Use development with 75 per cent of the Land to be developed as Residential & Commercial – Build & Sell model whereas 25 per cent of the Land is developed as Retail – Build & Lease Mode.
Prozone Realty Limited has shown a mixed financial performance in its recent Quarterly Results. For the quarter ending December 31, 2024, the company reported a consolidated net profit of Rs 0.80 crore, marking a positive shift after three consecutive quarters of losses. This turnaround is noteworthy, especially when compared to the net loss of Rs 0.50 crore in the corresponding quarter of the previous year. The company's revenue from operations also saw an increase of 8.39 per cent, reaching Rs 44.85 crore in the December 2024 quarter, up from Rs 41.38 crore in the same period of 2023.
However, looking at the sequential quarterly performance, there was a decline in total income. The total income for the quarter ending December 31, 2024, stood at Rs 47.30 crore, a decrease of 6.71 per cent compared to the Rs 50.71 crore in the September 2024 quarter. Similarly, the net profit of Rs 0.80 crore in the December quarter was a significant jump (160.15 per cent) from the Rs 0.39 crore in the preceding September 2024 quarter. The net profit margin also improved to 1.68 per cent in Q3 FY25 from 0.40 per cent in Q2 FY25.
Disclaimer: The article is for informational purposes only and not investment advice.