Intimation u/r 30 of SEBI (LODR) Regulations, 2015- Acquisition of equity shares of material subsidiaries directly and! or indirectly through its wholly owned subsidiary Company
PROZONER · price
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Prozone Realty's board, at its meeting on March 16, 2026, approved acquiring stakes in three material subsidiaries in the shopping mall and real estate business. The company will directly buy 38.50% of Hagwood Commercial Developers (59.34 lakh shares for about USD 5.55 million), while its wholly owned subsidiary Kruti will buy 38.50% of Alliance Mall Developers (14.43 lakh shares for about USD 9.91 million) and 65.29% of Empire Mall (8.88 crore shares for about USD 16.68 million). All three targets operate in shopping malls, residential and commercial premises, similar to Prozone's main line, with combined FY25 turnover of roughly INR 176 crore. The deals are fully cash-funded, not related-party transactions, and are targeted to close within 45 days. The acquisitions are aimed at consolidating ownership and providing an exit to foreign sellers like Triangle Real Estate entities and Pearlscope.
Positive for shareholders as Prozone strengthens control over key mall and commercial real estate subsidiaries, which align with its core business. However, the roughly USD 32 million total cash outflow could pressure liquidity, and investors should monitor deal completion within the 45-day window and any further funding or integration updates.