Please find the attached Outcome of Board Meeting
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YOGI Limited's Board of Directors, at its meeting held on 21st April 2025, approved the execution of a Share Purchase Agreement (SPA) to acquire 41,46,000 equity shares (representing 60% of the paid-up share capital) of M/s. Farewell Real Estates Private Limited. Post-acquisition, Farewell Real Estates will become a subsidiary of YOGI Limited. An Investor cum Shareholders' Agreement has also been executed among the Company, the target, the seller (B-Right Realestate Limited), and other related parties to outline rights and obligations. The investment will be used for developing a Slum Rehabilitation (SRA) Scheme project for Veer Sambhaji Nagar Co-operative Housing Society at LBS Marg, Mulund (West), Mumbai. The deal was previously approved by members via Postal Ballot on 4th April 2025.
This acquisition expands YOGI Limited's presence in Mumbai's real estate sector, particularly in the redevelopment/SRA space, and will contribute to consolidated revenues and earnings going forward. Shareholders should view this as a strategic move into affordable housing redevelopment, though execution risks in SRA projects remain.