Sobha Developers announced that the board of directors, has approved the change in name of the company from ''Sobha Developers'' to ''Sobha''.

Further the company has inform that vide a special resolution passed in the annual general meeting of the company held on July 11, 2014, the company had obtained the consent of shareholders and had subsequently made necessary applications with the registrar of companies, Karnataka seeking its approval for the aforementioned change in name.

Shares of the company gained Rs 12.35, or 2.68%, to trade at Rs 474. The total volume of shares traded was 3,327 at the BSE (10.41 a.m., Tuesday).