Further to our intimation dated 12.11.2025 under Reg. 30 read with Sch. III of SEBI(LODR) Regulations, 2015, this is to inform that the Company has entered into Share Purchase Agreement ....
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IITL Projects Ltd has signed a Share Purchase Agreement with Medanta Real Estate Pvt Ltd to sell its 4,00,880 preference shares in Capital Infraprojects Pvt Ltd (CIPL). The shares have a face value of Rs. 10 each plus Rs. 2 premium, aggregating Rs. 48.11 lakhs, but are being sold for a total consideration of Rs. 40 lakhs. The investment has already been fully impaired in the company's books and contributed nothing to its revenue or net worth in the last financial year. The transaction is expected to close by December 31, 2025 and is not a related party deal. Shareholder approval for the sale was obtained via postal ballot in November 2024.
This is a minor cleanup of a non-performing, fully impaired investment with no impact on the company's core operations. Shareholders are unlikely to see any meaningful financial impact as the proceeds of Rs. 40 lakhs are negligible relative to the company's size.