Shareholders approve Kanjurmarg property monetization deal with Runwal unit

Board & Shareholder Meetings View source PDF

NITCO · price

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AI summary

Nitco Ltd shareholders approved by postal ballot a special resolution to monetise the company's Kanjurmarg, Mumbai property through a conveyance deed with R Siddhatva Developers, a step-down subsidiary of Runwal Construction. The resolution passed with 99.998 percent votes in favour, with 165.72 million shares supporting it and only 3,433 shares voted against. Remote e-voting closed on June 27, 2026.

Likely market impact

Asset sale to a Runwal group unit; proceeds may boost liquidity or cut debt. Near-unanimous approval signals strong shareholder backing.