Kingmaker Developers Private Limited executed a Share Purchase Agreement to acquire Real Gem Buildtech Pvt. Ltd. from D B Realty Limited (BSE:533160) for INR 2.3 billion on November 6, 2023. Real Gem reported nil turnover on March 31, 2023.

The transaction is subject to completion of customary conditions precedent and is expected to complete on November 7, 2023. Dhawal Mehta, Denzil Arambhan, Jasmine Sheth Kachalia of Wadia Ghandy & Co acted as legal advisor to Keystone Realtors along with Shabnum Kajiji, Jash Agrawal who advised Axis Bank Limited on this transaction.