Outcome of Board Meeting held on 29th April, 2026
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
By the next day the stock moved 0.9 pts more than Nifty Microcap 250 and 2.8 pts more than its Real Estate related services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Justo Realfintech Limited's board has approved the transfer of its premium real estate projects branding, sales and marketing business to Chestertons India Private Limited, a wholly owned subsidiary, as a going concern via slump sale. The net value of assets being transferred is Rs. 914.78 lakhs, representing 17.43% of the company's net worth (as of March 31, 2025). The consideration of 95,000 Optionally Convertible Preference Shares (OCPS) of Rs. 1,000 each will be allotted by the subsidiary to the parent company. Two senior managerial personnel (Mr. Satya Mahaptra and Mr. Praveen Apte) will also be transferred to the subsidiary. The transaction is classified as a related party transaction at arm's length and is expected to complete within one month. There will be no change in the listed entity's shareholding pattern.
This internal restructuring transfers a significant business segment (17.43% of net worth) to a subsidiary for optimal capital structuring. Shareholders face no dilution, but the reorganization may reshape the company's revenue profile going forward as operations are streamlined within the group.