Invests about Rs 4.91 crore in three wholly owned subsidiaries via rights issue
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Sri Lotus Developers will invest a total of about Rs 4.91 crore in its three wholly owned subsidiaries through their rights issues. The subsidiaries are Veera Desai Projects (Rs 99 lakh), Dhiti Projects (Rs 2.96 crore), and Prasati Projects (Rs 96 lakh). All are Mumbai-based real estate developers with nil turnover for the last three years. The funds will be used for working capital and expanding the company's real estate business. Investment is by cash at face value of Rs 10 per share, and shareholding in each subsidiary stays at 100 percent. No regulatory approvals are needed, and the investment is expected to be completed by July 11, 2026.
Minor internal capital infusion into subsidiaries; no dilution for parent shareholders, but subsidiaries remain loss-making so impact is limited.