Max Estates Acquires 84.7-Acre Land Platform in Delhi for ₹420 Cr

Max Estates Limited announced its Board of Directors has approved the acquisition of the entire ownership interest in nine Land Owning Companies, which collectively hold an approximately 84.7-acre land platform in Sector 3, Najafgarh, Delhi. The Proposed Acquisition will be executed through a single, integrated transaction. The consideration for the acquisition will be discharged via a preferential issue of up to 70,33,162 equity shares at ₹597.50 per share, aggregating up to ₹420.23 crore. This transaction aims to make the Land Owning Companies wholly-owned subsidiaries of Max Estates. The deal is supported by valuation reports from KPMG and fairness opinion from Motilal Oswal.