Arvind Smartspaces jumps over 4% as frim to consolidate partnership interest in AEI

Shares of rallied over 4% in Friday’s trade after the company’s board approved consolidation of the partnership interest and increased profit sharing in Ahmedabad East Infrastructure (AEI) LLP.

According to the company’s BSE filing, the realty player approved the consolidation of the partnership interest in AEI LLP to 55.24% and increase in profit sharing to 98%.

“We hereby inform you that the Board of Directors at their meeting held on 29th September 2022, have approved the consolidation of the partnership interest of the company in AEI LLP from 51.43 to 55.24% and profit sharing in AEI LLP from 94.25 to 98% upon acquisition of entire partnership interest of Arvind Infrabuild LLP in AILLP,” the BSE filing said.

At 3:08 pm, the stock was trading at Rs 245 on BSE, up 3%. It hit the day's high of Rs 249 on BSE. The stock has been on an uptrend for the last three months, recording gains of nearly 58%.

Arvind SmartSpaces, incorporated in the year 2008, is a smallcap company with a market cap of Rs 1,049.15 crore. The company is engaged in the business of construction and development of real estate projects.