Mumbai, Dec. 18 -- Yerawada Properties is engaged in real estate development business and owns 1.68 acres parcel of freehold land located in Yerawada, Pune, a prime locality in the centre of the city. The land has the capacity to accommodate development of a 450 bedded hospital.

The acquisition of YPPL will lead to expansion of company's footprint in Maharashtra by enabling setting up of a hospital in Yerawada, Pune.

The purchase of equity stake shall be carried out in a step-up manner and shall conclude upon receipt of occupancy certificate for the hospital building planned to be constructed on the said land. In the first tranche, the company shall acquire 100% of the class-A equity shares representing 100% of the voting rights and nea...