Target Entity: IITL Nimbus The Hyde Park Private Limited ("Hyde Park")
Type of Deal: Conversion of partnership firm into private limited company (subsidiary)
Stake/Capacity: The Company holds 66.66% stake (2,50,000 equity shares of ₹10 each) in the subsidiary
Deal Value: ₹25,00,000 (Twenty-Five Lakh rupees) - representing the capital contribution converted into equity shares
Funding Source: Internal accruals (conversion of existing capital contribution in partnership firm)
Financial Impact: The subsidiary was newly incorporated on October 08, 2026, therefore financial statements are not yet available. Historical turnover of the partnership firm (previous structure) was: F.Y 2023-24: ₹3.86 crores, F.Y 2024-25: ₹1.60 crores, F.Y 2025-26: ₹0.07 crores
Timeline: Completed on October 08, 2026
Strategic Rationale: The newly incorporated company shall continue to undertake the business of construction of residential houses, commercial buildings, flats, farm houses and factory sheds and buildings in or outside of India, to act as builders, developers, colonizers and civil and constructional contractors and other real estate projects, and to provide allied real estate consultancy and related services. This will consolidate NPL business activities.
Approval Status: Approved by Ministry of Corporate Affairs, CRC, IMT-Manesar 2, Haryana on October 08, 2026
Related Party Aspects: This transaction constitutes a related party transaction where Mr. Bipin Agarwal, Managing Director and promoter of NPL, holds the remaining 33.37% stake (1,25,000 equity shares of ₹10 each) in Hyde Park. The transaction was conducted on an "arm's length" basis.
