Puravankara Projects, one of the leading real-estate developers in the country, has received an approval for exit from the investment of Rs 4.03 billion at Raidurg, Panamaktha Village in Karnataka which would involve the sale of its entire shares in three wholly owned subsidiaries of Puravankara.

The transaction has been authorized on a condition that total inflow should not be less than a sum of Rs 4.75 billion. The board of directors at its meeting held on March 21, 2017 have passed an enabling resolution for the same.

Total volume of shares traded on the bourses today was higher by 121.09% to 470,570 compared with 22-day average volume of 212,837.

Shares of the company gained Rs 0.85, or 1.42%, to trade at Rs 60.60. The total volume of shares traded was 103,161 at the BSE (10.08 a.m., Wednesday).