Sri Lotus Developers Invests in Wholly Owned Subsidiaries via Rights Issue to Fund Real Estate Expansion
Sri Lotus Developers and Realty Ltd, formerly known as AKP Holdings Limited, has committed funds through a rights issue to its wholly owned subsidiaries. The investment is aimed at expanding the company's presence in the real estate sector and meeting the working capital requirements of these entities.The Executive Committee of the Board approved the subscription to equity shares proposed to be issued by the company’s wholly owned subsidiaries, which are engaged in the business of residential and commercial real estate development and re-development.
The investment structure involves 100% subscription for all three subsidiaries through cash consideration. The details regarding the targets, investments, and operational specifics are presented below:
| Subsidiary Name | Industry / Business Focus | Investment Cost | Shares Acquired (Face Value Rs. 10/-) | Status of Acquisition |
|---|---|---|---|---|
| Veera Desai Projects Private Limited | Real estate and development/re-development of residential and commercial projects | Rs. 99,00,000 | 9,90,000 | Sri Lotus maintains 100% shareholding. |
| Dhiti Projects Private Limited | Real estate and development/re-development of residential and commercial projects | Rs. 2,96,00,000 | 29,60,000 | Sri Lotus maintains 100% shareholding. |
| Prasati Projects Private Limited | Real estate and development/re-development of residential and commercial projects | Rs. 96,00,000 | 9,60,000 | Sri Lotus maintains 100% shareholding. |
The subsidiaries—Veera Desai Projects Private Limited, Dhiti Projects Private Limited, and Prasati Projects Private Limited—all operate in the real estate development industry. Their respective incorporation details and financial history are as follows:
| Subsidiary Name | Incorporation Date | FY2023-24 Turnover | FY2024-25 Turnover | FY2025-26 Turnover |
|---|---|---|---|---|
| Veera Desai Projects Private Limited | June 03, 2013 | Nil | Nil | Nil |
| Dhiti Projects Private Limited | June 28, 2023 | Nil | Nil | Nil |
| Prasati Projects Private Limited | July 17, 2023 | Nil | Nil | Nil |
The companies involved in the investment are dedicated to real estate and development/re-development of residential and commercial projects. The completion period for all three acquisitions is scheduled on or before July 11, 2026.
LOTUSDEV Stock Price Movement
Shares of Sri Lotus Developers and Realty Limited slipped by 0.77% to settle at ₹148.73 today, reflecting a modest decline in the equity market. The stock was traded with a volume of 286,503 shares during the post-market session.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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.