Dear Sir/Madam, Please find the attached intimation pursuant to the Regulation 30 of the SEBI (LODR) Regulations 2015
ARIHANT · price
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Awaiting price reaction for this filing.
Arihant Foundations & Housing has acquired 100% of the paid-up share capital of Zenrai Developments Private Limited, making it a wholly-owned subsidiary. The target is a newly incorporated (March 2025) real estate company with an authorized capital of Rs. 15 lakh and a paid-up capital of just Rs. 10,000 (1,000 shares of Rs. 10 each). It has not yet commenced business and will function as a Special Purpose Vehicle (SPV) for real estate projects identified by the parent. The acquisition cost is a nominal Rs. 10,000 in cash, paid at par value, and was completed on May 3, 2025. The deal is classified as a related party transaction because the company's CEO Arun Rajan and promoter Vimal Lunawath hold shareholding/directorship in the target, though it is conducted at arm's length.
For shareholders, this is a routine SPV formation at negligible cost, setting the stage for future real estate project execution. While the related-party tag warrants governance attention, the small ticket size means no material impact on financials or share price is expected in the near term.