Pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 please find enclosed the ....
HEMIPROP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Hemisphere Properties India Limited is seeking shareholder approval via postal ballot for the sale of a land parcel (~3,54,600 sq.mtrs.) at Bopkhel, Pune to HyperVault AI Data Center Limited for ₹640.50 crore. The sale was conducted through an e-auction process (RFP floated on 18.02.2026, auction concluded on 12.05.2026), with the reserve price set at ₹600 crore. HyperVault emerged as the highest bidder at ₹640.50 crore. The transaction is classified as a Material Related Party Transaction because HyperVault is 51% held by TCS, and Tata Sons (a ~16.42% shareholder in HPIL) holds ~71.74% in TCS. The transaction value is ~99% of HPIL's annual consolidated turnover, triggering SEBI's material RPT threshold requiring shareholder approval. Voting ends on 29th June 2026.
The land sale at a ~7% premium over reserve price represents significant asset monetization for the company. However, since the buyer is Tata group-connected (via TCS), it is classified as a related party transaction — no related party will vote on the resolution. Shareholders should assess whether the price achieved through open auction represents fair value.