Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI LODR Regulations ) regarding convening the meeting of Equity Shareholders of the Company in connection with the proposed Scheme of Arrangement in the nature of merger / amalgamation of Saicharan Consultancy Private Limited ( Transferor Company ) with Hubtown Limited ( Transferee Company ) and their respective shareholders and creditors.
HUBTOWN · price
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Hubtown Limited is convening an equity shareholder meeting on June 5, 2026 to seek approval for merging Saicharan Consultancy Private Limited (unlisted Transferor Company) into Hubtown Limited (listed Transferee Company). The NCLT Mumbai Bench passed an order on April 9, 2026 directing this shareholder meeting. The rationale is to consolidate Hubtown's ownership in Rare Townships Private Limited (RTPL) - the Transferor Company holds 21.17% in RTPL while Hubtown already holds 66.93%, making RTPL a subsidiary. RTPL is developing a real estate project called Rising City in Ghatkopar, Mumbai. The merger will allow Hubtown to directly hold a larger stake in RTPL, enhancing financial growth. Remote e-voting runs from June 2-4, 2026, with May 29, 2026 as the cut-off date for determining eligible voters.
Shareholders should vote on this scheme as it will increase Hubtown's effective stake in RTPL subsidiary from 66.93% to approximately 88.1%, potentially strengthening Hubtown's asset base and future earnings from the Rising City project.