Divestment1 Jun 2026, 08:12 pm
Prozone Realty: Stake Sale in Subsidiaries Approved
AI Summary
Prozone Realty Ltd's shareholders have approved the disinvestment/sale of stake held in material subsidiaries and step-down material subsidiaries, along with the hiving off of identified assets of selected subsidiaries. The resolution was passed via postal ballot with the required majority, and public shareholder votes exceeded those against the resolution, complying with Regulation 37A of SEBI (LODR) Regulations, 2015. The expected consideration from the sale/disposal is approximately ₹44 Crores and ₹13 Crores respectively, subject to adjustments. The transactions involve Prozone Honzons Private Limited and Hagwood Commercial Developers Private Limited, both wholly-owned subsidiaries of the company, as buyers.
Key Highlights
- Shareholders approved disinvestment/sale of stake in material subsidiaries.
- Resolution passed via postal ballot with requisite majority.
- Expected consideration from sale/disposal is approx. ₹44 Crores and ₹13 Crores.
- Buyers include Prozone Honzons and Hagwood Commercial Developers, wholly-owned subsidiaries.
- Transaction complies with Regulation 37A of SEBI (LODR) Regulations, 2015.