Prozone Realty Limited has informed the Exchange regarding Notice of Postal Ballot
PROZONER · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Prozone Realty Limited is seeking shareholder approval via postal ballot for selling its entire stake in three material subsidiaries (Kruti Realtors, Alliance Mall Developers, and Empire Mall) to Inorbit Malls (India) Private Limited for Rs. 1,242.50 crore. The transaction involves hive-off of land assets into separate SPVs (Hagwood Commercial Developers and Prozone Horizons) before the sale, as the buyer is acquiring only operational mall assets. Empire Mall (Aurangabad) has Prozone Mall, Trade Centre, and Saral Bazaar; Alliance Mall (Coimbatore) has Phase 1 of Prozone Mall. The company will retain vacant land parcels in both locations (26,047 sq mt in Aurangabad and 39,753 sq mt in Coimbatore) for future development. E-voting runs from April 30 to May 29, 2026.
This transaction will unlock significant value by monetizing operational mall assets, reduce company debt through deleveraging, and allow Prozone Realty to retain future development potential on retained land parcels. Shareholders should note this is a special resolution requiring majority approval.