Nukleus Office Solutions Ltd Executes Letter of Intent for Phase-2 Expansion
Nukleus Office Solutions Limited has executed a Letter of Intent (LOI) to secure additional space for its managed and co-working office operations. The agreement is with R Cube Projects Private Limited (Lead Member) and Spirit Infrastructure Private Limited (Participant Member).The purpose of this agreement is to sub-license additional space at PB Area, R Cube Place, Shivaji Stadium Metro Station, Delhi, for Phase-2 expansion. This space is admeasuring approximately 13,075 sq. ft. in covered area and 20,115 sq. ft. in super area.
Key terms outlined in the LOI govern the expanded operational footprint. These include a tenure of 9 years, a lock-in period of 4 years plus a notice period, and a fit-out period of 75 days from possession. Possession of the premises is slated on or before June 01, 2026, or earlier if mutually agreed upon.
The transaction does not involve related party transactions, and Nukleus Office Solutions Limited has no shareholding in the entity entering the agreement. The industry associated with the acquired space is Real Estate - Licensing of commercial office space.
The consideration for this expansion will be a monthly sub-license fee, accompanied by a refundable security deposit and other applicable charges. Furthermore, the parties involved are not related to the company's promoter or promoter group.
The company stated that this expansion move aligns with its overall strategy to scale its co-working and managed office operations in prime locations.
Stock Price Movement
As of 1:33 PM, Nukleus Office Solutions Ltd is trading flat at ₹201.00, marking zero change for the day so far. Throughout the session, the shares have navigated a tight range, fluctuating between an intraday low of ₹199.00 and an intraday high of ₹201.00.Source:
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