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Prozone CSC to be listed on BSE, NSE as independent entity today
SME News, Wednesday, Sep 12, 2012 11:55:30 AM IST
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NEW DELHI: Real estate firm Prozone CSC, which was previously an arm of Provogue India Ltd, stated that the firm will be listed on the key stock exchanges - NSE and BSE – today as an independent entity.
Prozone CSC Ltd has opted for the demerger process, which was approved by the Mumbai High Court.
Before the demerger, Provogue had 75% stake in the Prozone CSC and Capital Shopping Centres Group Plc, UK had 25% stake.
After the demerger, the Provogue promoters will have 35.08% stake, while Capital Shopping Centers (CSC) will hold 32.38% stake in the demerged company Prozone CSC Ltd. The remaining holding will be with the public.
Prozone CSC Managing Director Nikhil Chaturvedi said, “We are designing Prozone CSC to become India's leading developer, owner and manager of high quality shopping centres focused on India's emerging new urban cities. We will complement our retail schemes with adjacent mixed-use developments to facilitate the business model.”
The firm has land bank of 17.8 million sq ft in markets like Aurangabad, Coimbatore, Nagpur, Indore, Jaipur and Mysore.
