Omaxe buys 50 pc voting rights of JV entity Omaxe Azorim Developers

NEW DELHI: Real estate developer Omaxe today said it has acquired 50 per cent voting rights of its partner in the joint venture entity Omaxe Azorim Developers.

"The company has purchased 50 per cent voting right by way of purchase of equity shares of the Omaxe Azorim Developers Pvt Ltd ( JV company) from Azorim International Holdings Ltd (foreign company)," Omaxe said in a BSE filing.

The company, however, did share details about financials involved in the deal.

"Accordingly, the JV company has become the wholly-owned subsidiary of the company (Omaxe), the statement said.

Shares of Omaxe today closed 0.94 per cent down at Rs 163.90 apiece on the BSE.