Intimation pursuant to Regulation 30 and Schedule III of the SEBI (LODR) Regulations, 2015 regarding material event / information as an outcome of the meeting of Board of Directors within ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board of G. G. Dandekar Properties, at its meeting on April 1, 2025, approved the sale of a land parcel in Bhiwandi (Village Kaneri, Taluka Bhiwandi, District Thane) covering about 3,601 sq meters. The Executive Director has been authorized to obtain a fair value report from a registered valuer and take steps to complete the sale. Separately, the Board decided to request its associate company, Navasasyam Dandekar Private Limited (NDPL), to convert 14,989 Compulsorily Convertible Preference Shares (CCPS) into equity shares at a 1:1 ratio, as per the terms in the Shareholders Agreement amendment dated March 8, 2021. The company said further updates, including any change in its shareholding in NDPL, will be disclosed as the events unfold.
The land sale could unlock cash for the company once a buyer and fair price are finalized, while the CCPS conversion will shift the company's holding in NDPL from preference to equity, which may change its effective ownership stake and future returns from the associate.