Acquisitions16 Mar 2026, 09:02 pm
Prozone Realty Acquires Major Stake in Three Subsidiaries for Over INR 31 Crores
AI Summary
Prozone Realty Ltd. has announced the acquisition of significant equity shares in three material subsidiaries: Hagwood Commercial Developers Private Limited, Alliance Mall Developers Co. Pvt. Ltd., and Empire Mall Private Limited. The transactions amount to over INR 31 crores. This strategic move aims to increase the company's ownership, consolidate its position, and provide exit opportunities to foreign shareholders. The acquisitions are not related party transactions and are expected to be completed within 45 days of the board resolutions. The companies being acquired are engaged in developing, owning, and operating shopping malls and residential and commercial premises.
Key Highlights
- Prozone Realty to acquire 38.50% equity shareholding in Hagwood Commercial Developers Private Limited from TREIIL and Pearlscope
- Kruti Realtors and Developers Private Limited, a wholly owned subsidiary of Prozone Realty, to acquire 38.50% equity shareholding in Alliance Mall Developers Co. Pvt. Ltd. from TREIHL and Pearlscope, and 65.29% equity shareholding in Empire Mall Private Limited from Triangle, Pearlscope, and Nailsfield
- The total transaction amount is over INR 31 crores
- The acquisitions are expected to be completed within 45 days of the board resolutions
- The companies being acquired are engaged in developing, owning, and operating shopping malls and residential and commercial premises