Disclosure under Regulation 30 of LODR regarding convening the meeting of Unsecured Creditors of the Company in connection with the proposed Scheme of Arrangement in the nature of merger/Amalgamation ....
HUBTOWN · price
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Hubtown Limited has announced a meeting of its Unsecured Creditors scheduled for June 05, 2026 at 3:00 PM IST through video conferencing. This meeting is being held pursuant to an NCLT order dated April 09, 2026, to seek creditor approval for the proposed merger of Saicharan Consultancy Private Limited (unlisted Transferor Company) into Hubtown Limited (listed Transferee Company). Saicharan holds 21.17% stake in Rare Townships Private Limited (RTPL), which is already a subsidiary of Hubtown (66.93% holding). RTPL is developing the 'Rising City' premium real estate project in Mumbai. The merger aims to consolidate Hubtown's ownership in RTPL, providing enhanced financial growth and long-term value appreciation. Remote e-voting will be open from June 02 to June 04, 2026. The scheme is subject to NCLT approval after creditor voting.
If approved by unsecured creditors and subsequently by NCLT, this merger will increase Hubtown's direct stake in RTPL, consolidating its real estate portfolio and ownership structure. Shareholders may benefit from simplified corporate structure and improved operational efficiencies.