EFC Enters Share Purchase Agreement to Acquire 100% Stake in Ultrafresh Modular Solutions Limited
EFC (I) Limited, a Real Estate as a Service Company, has entered into a Share Purchase Agreement to acquire 100% equity stake in Ultrafresh Modular Solutions Limited. The acquisition is slated for completion on or before October 31, 2026, and involves purchasing the entire equity stake of the modular furniture solutions company.Ultrafresh Modular Solutions Limited is an established player within India's modular home solutions segment. As a subsidiary of TTK Prestige Limited (51%), Ultrafresh specializes in offering customized modular kitchens, wardrobes, and other bespoke modular furniture. The brand operates using an integrated approach covering design, manufacturing, supply, and installation, with a presence and manufacturing plant located at Nalagarh in Himachal Pradesh.
The acquisition is designed to strengthen and scale EFC's existing business in furniture manufacturing and Design & Built solutions. By integrating Ultrafresh’s product portfolio, brand strength, market presence, and operational capabilities in North India, the company aims to create significant operational and business synergies. This strategic extension of EFC's operations is intended to broaden its product offerings and enhance access to the organized modular home solutions market, achieving greater scale and long-term value creation.
The transaction has been conducted at arm’s length, with no interest held by any promoter or group companies in Ultrafresh Modular Solutions Limited. The acquisition is within the broader line of EFC's existing business activities.
Acquisition and Financial Details
The purchase will be discharged through a share swap mechanism, where EFC (I) Limited will issue equity shares equivalent to the acquisition consideration. The total Cost of Acquisition for the 100% stake has been set at INR 54 Crores.Key details regarding the target entity and the transaction are summarized below:
| Detail | Ultrafresh Modular Solutions Limited |
|---|---|
| Industry | Modular Furniture Solutions |
| Focus Areas | Customized kitchens, wardrobes, and modular furniture solutions |
| Date of Incorporation | December 3, 1992 |
| Turnover FY 2025-26 | Rs. 36.32 Crores |
| Turnover FY 2024-25 | Rs. 32.49 Crores |
| Turnover FY 2023-24 | Rs. 31.20 Crores |
The acquisition does not require any specific governmental or regulatory approvals, though the issuance of fresh equity shares as consideration is subject to requisite approval from shareholders and relevant stock exchanges.
EFCIL Stock Price Movement
As of 3:02 PM, EFC (I) Limited shares slip marginally in active trading, shedding 0.01% and currently standing at ₹178.01. The stock has traded over 123,873 shares today, with the intraday low marked at ₹178.00.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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