Prestige Falcon Realty Ventures, a fully owned subsidiary of the Bengaluru-based real estate developer, paid INR 978.7 Crore for securities from DB Realty and its subsidiaries to enhance its share in Prestige BKC Realtors from 50% to 100%.

DB Realty told the stock markets on February 9 that it intends to offer 50 million convertible warrants to non-promoter investors including Rakhesh Jhunjhunwala's RARE Enterprises.

According to Indian real estate industry insiders, Godrej Properties has decided to abandon its intentions to invest approximately INR 700 Cr in DB Realty in order to acquire a 10% interest and establish a collaborative platform in response to concerns made by minority owners and other stakeholders.