Nimbus Projects Limited Approves Conversion of Partnership Firm into Private Subsidiary
Nimbus Projects Limited (NPL) announced that its Board of Directors approved the incorporation of a new subsidiary company, marking a significant step in the company’s real estate portfolio. The approval pertains to the conversion of the existing partnership firm, IITL-Nimbus, The Hyde Park Noida, into a private limited company named "IITL Nimbus The Hyde Park Private Limited."The decision was taken by the Board of Directors during a meeting held on July 27, 2026. This incorporation is subject to the completion of all statutory and regulatory formalities required for the transition from a partnership firm to a private limited entity.
Details of the Conversion and Transaction
Nimbus Projects Limited will hold a controlling stake in the newly formed entity. The original partnership firm, IITL-Nimbus, The Hyde Park Noida, was a joint venture where NPL held a 66.67% capital contribution, with Mr. Bipin Agarwal holding the remaining 33.33%.The proposed company, "IITL Nimbus The Hyde Park Private Limited," will operate in the Real Estate Industry and will continue the business of real estate development. This scope includes construction, acquisition, sale, leasing and management of residential, commercial, and other real estate projects, as well as providing allied real estate consultancy services.
The incorporation involves a defined consideration structure for NPL's stake. The transaction details are summarized below:
| Particular | Detail |
|---|---|
| Proposed Company Name | IITL Nimbus The Hyde Park Private Limited |
| Holding Entity | Nimbus Projects Limited (NPL) |
| Stake Held by NPL | 66.67% of paid up equity capital |
| NPL Capital Contribution in Firm | Rs. 25,00,000/- |
| Shares Allotted to NPL | 2,50,000 Equity shares |
| Subscription Price per Share | Rs. 10/- |
Upon the conversion, Nimbus Projects Limited is set to hold 66.67% of the Equity Shares in IITL Nimbus The Hyde Park Private Limited (the proposed company), making it a subsidiary of NPL.
NIMBSPROJ Stock Price Movement
Today, shares of Nimbus Projects Limited edged higher after the market closed, gaining 1.84% to settle at ₹193.50. The stock traded with a volume of 1,096 shares during the day, having traded within an intraday range of ₹190 and ₹193.5.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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