The Mumbai-based realty company, DB Realty shares were trading in the green on 26 September after the company acquired a stake in three hotel companies for more than Rs 2,000 crore.

The realty company is set to acquire shares in Goan Hotels and Realty, Bamboo Hotel Global Centre, and BD and P Hotels.

The company, in its regulatory filings, said that it will acquire 10 lakh Class A equity shares of Bamboo Hotel for Rs 608.88 crore, it will acquire 2.1 crore shares in BD and P Hotels for Rs 339.1 crore, and 78,250 equity shares in Goan Hotels for Rs 1,410.68 crore.

The deals will fall into related party transactions and are said to be done at an arm’s length basis.

In the months of February and March, the company raised funds to the tune of Rs 1,544 crore via a preferential basis for reducing consolidated debt.

The fund raised via the issue of warrants led to a debt reduction of Rs 1,404 crore with further investments/acquisition of new assets.

In the last 1 year, the company has entered into joint ventures/arrangements/partnerships with large real estate developers such as Adani Good Homes Private, Prestige Group Entities, and Godrej Residency.

At 3:30 pm, the shares of DB Realty closed at Rs 165.45 or 0.36% above its previous close on NSE.