Prozone Realty Limited has informed the Exchange about Sale or disposal
PROZONER · price
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Prozone Realty's board has approved a major restructuring involving three steps. First, the company will hive off remaining land assets (worth ~Rs. 57 Crores) in Coimbatore and Chhatrapati Sambhaji Nagar from Alliance Mall Developers and Empire Mall into two wholly owned SPVs. Second, it will sell its identified material subsidiaries — 100% of Kruti Developers, 100% of Alliance Mall Developers, and 100% of Empire Mall — to Inorbit Malls (India) or its affiliates for an aggregate gross consideration of approximately Rs. 1,242.50 Crores. These two subsidiaries together contributed about 68% of the company's FY25 turnover and over 53% of its net worth. Third, the company will acquire a 17.507% stake in Gajaanan Property Developers (GPDPL) for ~Rs. 24 Crores in cash to expand its presence in high-income real estate assets. Shareholder approval via postal ballot is being sought for the sale and hive-off transactions.
This is a significant value-unlocking event for shareholders, with the Inorbit Malls deal alone valued at ~Rs. 1,242.50 Crores against the company's market scale, likely to be received positively by the market. The divestiture of subsidiaries that contributed most of the revenue signals a strategic shift toward focusing on other assets and the GPDPL acquisition, while the cash inflow could substantially strengthen the balance sheet.