Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015
NIMBSPROJ · 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 has informed BSE that Nimbus Propmart Private Limited (NPPL), a group company and co-partner, will sell its stakes in three partnership firms to Mr. Bipin Agarwal, the company's Managing Director and promoter. The three firms are IITL-Nimbus The Express Park View (Company holds 95%), IITL-Nimbus The Palm Village (Company holds 95%), and IITL-Nimbus The Hyde Park, Noida (Company holds 50%). After the transaction, NPPL will retire as partner and Mr. Agarwal will take its place. The company's own capital contribution, nature of holding, and control in these firms remain unchanged, and there will be no change in control, management, or financial position of the listed company.
This is an internal reshuffle between a group entity and the promoter personally — Nimbus Projects' own stake and financials stay the same, so the deal is largely neutral for shareholders. However, it means the promoter is now personally exposed to these real estate partnership ventures.