Key Quantitative Figures

  • Nimbus Projects Limited will receive 2,50,000 (Two Lakh Fifty Thousand) equity shares of ₹10 each in the new subsidiary.
  • The subscription cost for NPL in the share capital of the proposed company is ₹25,00,000 (Rupees Twenty-Five Lakh only).
  • NPL's capital contribution in the existing partnership firm was ₹25,00,000.
  • Post-conversion, NPL will hold 66.67% of the equity share capital in the new subsidiary.

Dates of Action

  • Board Meeting Date: July 27, 2026
  • Board Meeting Timing: Commenced at 1:00 PM and concluded at 3:00 PM
  • Corrigendum Date: July 28, 2026

Parties Involved

  • Listed Entity: Nimbus Projects Limited (NPL)
  • Existing Entity: IITL-Nimbus, The Hyde Park Noida (partnership firm)
  • New Entity: IITL Nimbus The Hyde Park Private Limited
  • Other Partner: Mr. Bipin Agarwal (holds 33.33% capital contribution in the partnership firm)
  • Regulatory Authorities: BSE Limited, National Stock Exchange of India Limited, Registrar of Companies
  • Company Representative: Ritika Aggarwal (Company Secretary & Compliance Officer, Membership No: A69712)

Purpose and Rationale

The conversion/incorporation is being undertaken to convert the existing partnership firm into a private limited company structure. The proposed company will continue to undertake the business of real estate development, including construction, development, acquisition, sale, leasing and management of residential, commercial and other real estate projects, and to provide allied real estate consultancy and related services.

Financial and Operational Impact

The conversion will result in Nimbus Projects Limited holding 66.67% of the equity share capital in the newly formed subsidiary company, IITL Nimbus The Hyde Park Private Limited. The company's investment of ₹25,00,000 in the partnership firm will be converted into 2,50,000 equity shares of ₹10 each in the new subsidiary.

Capital Structure Impact

The conversion will establish a new subsidiary company with Nimbus Projects Limited as the holding company with 66.67% ownership. The share capital structure of the proposed company will consist of 2,50,000 equity shares held by NPL and the remaining 33.33% held by other partners.

Approval Requirements

The conversion/incorporation is subject to issuance of the Certificate of Incorporation by the Registrar of Companies and such other statutory approvals, if any, as may be required.

Additional Information

The detailed information is provided in Annexure A to the filing and is also available on the company's website at www.nimbusprojectsltd.com.