Godrej Properties Ltd. has decided to cancel the proposed deal with DB Realty Ltd. amid investor concerns, reflected in Friday’s stock plunge.
The company received “substantial feedback and views” from its stakeholders and minority investors raising concern on the proposed transaction, Godrej Properties said in an exchange filing. Taking that into consideration, the board has decided “not to proceed with any further evaluation of potential investment in the equity capital of DB Realty and the Platform”.
