Sri Lotus invests about Rs 4.91 cr in 3 wholly owned subsidiaries via rights issue

Listed Co AcquisitionStrategic Transactions View source PDF

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AI summary

Sri Lotus Developers will invest about Rs 4.91 crore total in its three wholly owned subsidiaries through a rights issue subscription. Details: Rs 99 lakh in Veera Desai Projects, Rs 2.96 crore in Dhiti Projects, and Rs 96 lakh in Prasati Projects. All three subsidiaries operate in real estate development and reported Nil turnover for the last three financial years. The company maintains 100% shareholding in each entity. Investment is by cash consideration, with completion targeted by July 11, 2026. No regulatory approvals are required as these are intra-group transactions.

Likely market impact

Capital infusion into subsidiaries for working capital and real estate expansion. Small ticket size, unlikely to materially move the stock. Maintains full control.