Majestic Auto Completes SHPL Bonus RPS Credit, Proceeds with Share Transfer

Majestic Auto Limited has successfully completed the corporate actions required for the credit of 50,00,000 Bonus Redeemable Preference Shares (Bonus RPS) of Sharan Hospitality Private Limited (SHPL). These Bonus RPS, along with Equity Shares and Non-Convertible Debentures, are now held by Majestic Auto in dematerialised form, fulfilling conditions related to a Resolution Plan. The company is now positioned to proceed with the transfer of these securities to NovumLake Property Fund and 360 ONE Real Assets Advantage Fund as per the Securities Purchase Agreements, subject to applicable conditions and laws. Further material developments will be disclosed as required.