Sumit Woods Limited Acquires 99% Stake in Access Facility Management LLP for Real Estate Expansion
Sumit Woods Limited has entered into an agreement to acquire a 99% partnership interest in Access Facility Management LLP (AAH-8525) by way of capital contribution. The investment secures substantial control over the affairs of Access Facility Management LLP, making the entity an affiliate of Sumit Woods Limited.The acquisition enables Sumit Woods Limited to participate directly in building projects and further expands the Company's real estate activities. The strategic goal is generating sustainable returns through the development and monetization of property.
In addition to the investment, Access Facility Management LLP is considering a change of its name from 'M/s.Access Facility Management LLP' to 'Sumit Borivali Developers LLP,' pending necessary approvals from competent statutory authorities.
The transaction, which is structured on an arm's length basis, involves the Promoter and members of the Promoter Group. Sumit Woods Limited made a cash consideration contribution of Rs. 99,000 for the 99% stake.
A detailed overview of the acquisition, the target entity, and its operational status is provided below.
| Detail | Information |
|---|---|
| Target Entity | Access Facility Management LLP (AAH-8525) |
| Industry | Real Estate and Constructions |
| LLP Incorporation Date | November 21, 2016 |
| Nature of Interest Acquired | 99% partnership stake |
| Consideration Paid | Cash Consideration |
| Cost of Acquisition | Rs. 99,000 |
| Last Three Years Turnover | FY 2022-23 - Rs. NIL, FY 2023-24 - Rs. NIL, FY 2024-25 - Rs. NIL |
SUMIT Stock Price Movement
On Friday, Sumit Woods Limited shares edged higher to close at ₹59.29, gaining 13.63% from the previous close. The stock saw robust trading activity, with 426,392 shares changing hands during the session.Source:
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