Prozone Realty Gains Approval for Disinvestment and Hiving Off Assets of Subsidiaries
Prozone Realty Limited announced that its shareholders approved a special resolution for the disinvestment and sale of stakes held in its material subsidiaries, along with the hiving off of identified assets from selected subsidiaries. The resolution was approved by the members of the Company through a Postal Ballot, held via remote e-voting, following the Scrutinizer's Report dated June 1, 2026.The approved resolution empowers the Company to consider and approve the proposal for disinvestment/sale of stakes and hiving off of identified assets of its subsidiaries.
Details of Disinvestment and Sale Transactions
The company provided comprehensive details regarding the three subsidiaries—Alliance, Empire, and Kruti—whose stakes are subject to the proposed sale/disposal.Below is a summary of the key details for each subsidiary:
| Particulars | Alliance | Empire | Kruti |
|---|---|---|---|
| Financial Year - 2024-25 Turnover | INR 5,927.23 lakhs (33.16%) | INR 6,271.36 lakhs (35.09%) | INR Nil Lakhs (0%) |
| Financial Year - 2024-25 Net Worth | INR 17,349.13 Lakhs (22.26%) | INR 24,611.41 Lakhs (31.57%) | INR -2.42 Lakhs (0%) |
| Buyer Name | Prozone Horizons Private Limited (Wholly owned subsidiary) | Hagwood Commercial Developers Private Limited (Wholly owned subsidiary) | Inorbit Malls (India) Private Limited or its affiliate(s) |
| Buyer Business | Construction and development of commercials and residential Projects | Construction and development of commercials and residential Projects | Mall Business |
| Expected Consideration | Estimated consideration is Rs. 44 Crores approx. | Estimated consideration is Rs. 13 Crores approx. | Up to approx. Rs. 1,242.50 Crores |
| Estimated Completion Date | Within 90 days of passing the Shareholder Resolution | Within 90 days of passing the Shareholder Resolution | Within 90 days of execution of Share Purchase Agreement |
Status of Proposed Agreements
Regarding the executing agreements, for Alliance and Empire, the Company noted that the agreement is not yet executed between the parties but plans to execute it in due course of time.For Kruti, the Company stated that the agreement is not yet executed between the parties, but execution is expected in due course of time.
The sale, lease, or disposal of the undertakings for all three subsidiaries is not classified as a Slump Sale.
Furthermore, for the sale of the subsidiary shares, the Company confirmed that the transactions are not considered related party transactions.
PROZONER Stock Price Movement
Prozone Realty Limited shares today slipped by 4.57% to settle at ₹50.79, signaling a tough day for the real estate stock. The downward pressure was evident throughout the session, with the equity trading on 179,171 shares.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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