Prozone Realty Limited has informed the Exchange about Acquisition
PROZONER · price
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Prozone Realty's board has approved buying shares of three companies — Empire Mall, Omni Infrastructure, and Hagwood Commercial Developers — from its Singapore-based wholly owned subsidiary, Prozone Liberty International. The total cash consideration is approximately Rs. 5.67 crore for stakes of 34.71% in Empire, 60% in Omni, and 61.5% in Hagwood. All three targets are in the shopping mall and commercial real estate business, with combined FY25 turnover of nearly Rs. 1,185 crore. The deal is classified as a related party transaction done at a price other than arm's length, and is expected to close within 45 days. The move is aimed at consolidating ownership of operating retail assets under the listed entity, improving cash flow visibility, and enabling independent refinancing and strategic flexibility.
This is essentially an internal group restructuring rather than a fresh acquisition, so the direct financial impact on shareholders is limited. However, it gives Prozone direct control over income-generating mall assets, which could support future fundraising or monetisation, though investors should note the transaction is not at arm's length.