The Exchange has received the disclosure under Regulation 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Nimbus Projects Ltd
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Nimbus Projects Ltd (Acquirer) has filed a disclosure under SEBI SAST Regulations regarding an indirect acquisition of shares in IITL Projects Ltd (Target Company). The acquisition arises from a scheme of amalgamation where several companies, including Gupta Fincaps and Urvashi Finvest, are merging into Nimbus Projects Ltd. Post-merger, Nimbus Projects Ltd will hold the majority stake in N.N. Financial Services Private Limited (NNFSPL), which is the promoter of IITL (Industrial Investment Trust Limited), the holding company of IITL Projects Ltd. Since IITL Projects is a subsidiary of IITL, this results in an indirect acquisition of equity shares in the Target Company by Nimbus Projects Ltd, triggering thresholds under Regulation 3(1) read with Regulation 5 of SEBI SAST Regulations. The acquirer has been exempted from making an open offer under Regulation 10(1)(d)(iii).
No direct change in shareholding of IITL Projects Ltd occurs as a result of this transaction, and no open offer is triggered due to the exemption. The corporate restructuring consolidates control of the promoter entity (NNFSPL) under Nimbus Projects Ltd, which may lead to changes in board composition or strategic direction over time, though there is no immediate price impact expected from this disclosure.