Man Infraconstruction Limited has informed the Exchange about General Updates - Acquisition of Equity Shares of Man Realtors and Holdings Private Limited ( MRHPL ).
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Man Infraconstruction Limited is acquiring 17,03,183 additional equity shares (36.07%) of its subsidiary Man Realtors and Holdings Private Limited (MRHPL) at Rs. 215 per share in cash. After this acquisition, the company will hold 100% of MRHPL, making it a wholly owned subsidiary. MRHPL is a real estate company based in Maharashtra, incorporated in 1992, with a turnover of Rs. 14,984.02 lakhs in FY25 (down from Rs. 41,843.65 lakhs in FY23). The transaction is classified as a related party transaction and is expected to complete within 30 working days. The acquisition is part of a consolidation move to bring the real estate arm fully under the listed entity.
This is a consolidation move that simplifies the group structure by making the real estate subsidiary wholly owned. It is a related party transaction at a stated price, so shareholders should monitor whether the price is fair. The declining turnover trend of MRHPL may raise some questions, but full ownership gives the company complete control over future real estate activities.