Hemisphere Properties India Limited has informed the Exchange regarding Board meeting held on April 16, 2025.
HEMIPROP · price
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The Board of Directors of Hemisphere Properties India Limited, at their meeting on April 16, 2025, approved the allotment of 5 crore Cumulative Redeemable Preference Shares (CRPS) of Rs 10 each, aggregating to Rs 50 crore, on a private placement basis to the Promoter — the President of India acting through the Ministry of Housing & Urban Affairs. The shares are unlisted and issued at par, with terms consistent with prior disclosures. Additionally, the Board approved Amendment No. 1 to the Request for Proposal (RFP) dated December 13, 2024, for the sale of land parcels at village Bopkhel, Pune, Maharashtra.
The Rs 50 crore infusion from the government promoter strengthens the company's capital base without dilution of equity, while progress on the Pune land sale could unlock value for shareholders. The CRPS being unlisted and issued at par to the promoter means no immediate impact on retail shareholders' equity or market price.