03-Jul-2026 19:14:53
SRI LOTUS DEVELOPERS AND REALTY LTD : BUSINESS EXPANSION VIA RIGHTS ISSUE IN WHOLLY OWNED SUBSIDIARIES
• The Executive Committee of the Board approved subscription to equity shares of wholly owned subsidiaries through a rights issue. • The investment is to be made in Veera Desai Projects Private Limited, Dhiti Projects Private Limited, and Prasati Projects Private Limited. • The business of all three subsidiaries is real estate development/re-development of residential and commercial projects. • Turnover for FY26 for all three subsidiaries is Nil. • Cost of acquisition for Veera Desai Projects Private Limited is ₹99 Lakhs for 9,90,000 shares. • Cost of acquisition for Dhiti Projects Private Limited is ₹2.96 Cr for 29,60,000 shares. • Cost of acquisition for Prasati Projects Private Limited is ₹96 Lakhs for 9,60,000 shares. Impact: Routine investment in wholly-owned subsidiaries for business expansion.
Sri Lotus Developers and Realty Ltd
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