This is a corrigendum to the company's earlier intimation dated July 27, 2026 (Reference No. NPL/BSE/NSE/2026-27/27) submitted pursuant to Regulation 30 read with Schedule III of the SEBI Listing Regulations.
Board Meeting Details
The Board meeting commenced at 01:00 p.m. and concluded at 03:00 p.m. on July 27, 2026.
Subsidiary Company Details
- Name of proposed company: IITL Nimbus The Palm Village Private Limited
- Conversion basis: Conversion of existing partnership firm IITL-Nimbus, The Palm Village
- Country of Incorporation: India
- Date of Incorporation: To be completed upon issuance of Certificate of Incorporation by Registrar of Companies
Ownership Structure
- Nimbus Projects Limited holds 95% capital contribution in the partnership firm
- Mr. Bipin Agarwal holds 5% capital contribution in the partnership firm
- Post-conversion, NPL will hold 95% of equity shares in the new subsidiary
Business Operations
The proposed company will continue the business of real estate development, including:
- Construction, development, acquisition, sale, leasing and management of residential, commercial and other real estate projects
- Provision of allied real estate consultancy and related services
- Industry: Real Estate
Capital Structure
- Current capital contribution: ₹1,00,00,000 (Rupees One Crore only) in the partnership firm
- Post-conversion subscription: NPL will subscribe to ₹1,00,00,000 in share capital of the proposed company
- Share composition: 10,00,000 equity shares of ₹10 each
Regulatory Approvals Required
The conversion/incorporation is subject to:
- Issuance of Certificate of Incorporation by the Registrar of Companies
- Completion of all applicable statutory and regulatory formalities
Additional Information
The complete information is available in Annexure A and on the company's website at www.nimbusprojectsltd.com