Max Estates Acquires 9 Land Companies via Share Swap

Max Estates Limited announced its Board of Directors has approved the acquisition of nine land-owning companies, including Trophy Estates Private Limited and others, which collectively hold approximately 84.7 acres of land in Najafgarh, Delhi. This acquisition will be executed through a preferential issue of up to 70,33,162 equity shares at ₹597.50 per share, totaling ₹420.23 crore, via a share swap for consideration other than cash. The transaction aims to consolidate land assets, with each acquired company becoming a wholly-owned subsidiary post-completion. The deal is supported by valuation reports from KPMG and fairness opinions from Motilal Oswal Investment Advisors.