Subsidiary28 Jul 2026, 04:27 pm
Nimbus Projects to Incorporate Subsidiary IITL Nimbus The Hyde Park Pvt Ltd
AI Summary
Nimbus Projects Ltd announced its Board of Directors has approved the incorporation of a subsidiary, 'IITL Nimbus The Hyde Park Private Limited'. This new entity will be formed by converting the existing partnership firm, IITL-Nimbus, The Hyde Park Noida, into a private limited company. Nimbus Projects will hold a 66.67% stake in the subsidiary, contributing ₹25,00,000 for 2,50,000 equity shares of ₹10 each. The subsidiary will focus on real estate development, including construction, sale, leasing, and management of residential and commercial projects. The incorporation is subject to regulatory approvals.
Key Highlights
- Board approves incorporation of subsidiary IITL Nimbus The Hyde Park Pvt Ltd.
- Nimbus Projects to hold 66.67% stake in the new subsidiary.
- Subsidiary will focus on real estate development business.
- Conversion of partnership firm into private limited company approved.
- Incorporation subject to statutory and regulatory formalities.
Price Impact
More from NIMBSPROJ