Shraddha Prime Projects Ltd. Acquisition Disclosure

Key Decisions and Transactions

The Finance Committee of Shraddha Prime Projects Limited approved two acquisition proposals:

1. Acquisition of Atharva Ventures Private Limited (AVPL)

  • Acquisition of 91% of total share capital for aggregate consideration not exceeding ₹91,000 (Indian Rupees Ninety-One Thousand Only)
  • Will make AVPL a Subsidiary of the Company
  • Purchase price: ₹10 per share
  • Transaction not considered as related party transaction under Regulation 23 of SEBI Listing Regulations

2. Acquisition of Shraddha Life Spaces Private Limited (SLSPL)

  • Acquisition of 100% of total equity share capital for aggregate consideration not exceeding ₹10,36,98,200 (Indian Rupees Ten Crore Thirty-Six Lakh Ninety-Eight Thousand Two Hundred Only)
  • Will make SLSPL a Wholly Owned Subsidiary (WOS) of the Company
  • Purchase price: ₹11.02 per share
  • Transaction considered as related party transaction under Regulation 23 of SEBI Listing Regulations
  • Promoter of the Company has interest in SLSPL (promoter and Director of SLSPL)
  • Transaction conducted at arm's length basis

Meeting Details

  • Meeting held on: 19th August 2026
  • Commencement time: 05.00 P.M.
  • Conclusion time: 05.30 P.M.

Target Company Details

Atharva Ventures Private Limited (AVPL)

  • Incorporated: 22nd July, 2010
  • Business: Real estate development with focus on construction of residential complexes, townships, and slum rehabilitation projects
  • Authorised Share Capital: ₹5,00,000
  • Paid up Share Capital: ₹1,00,000
  • Turnover: ₹0 (FY 2022-23, 2023-24, 2024-25)

Shraddha Life Spaces Private Limited (SLSPL)

  • Incorporated: 25th March, 2014
  • Business: Real estate development with focus on construction of residential complexes, townships, and slum rehabilitation projects
  • Authorised Share Capital: ₹10,00,00,000
  • Paid up Share Capital: ₹9,41,00,000
  • Turnover: ₹0 (FY 2022-23, 2023-24, 2024-25)

Transaction Details

  • Consideration Type: Cash consideration for both acquisitions
  • Government Approvals: No governmental or regulatory approvals required for either acquisition
  • Completion Timeline: On or before August 20, 2026
  • Valuation Basis: Based on valuation report for both acquisitions

Strategic Rationale

The acquisitions are being undertaken with the objective of increasing the Company's footprint in the real estate market and consolidating its real estate assets. The transactions represent an attractive opportunity for the Company to increase its real estate portfolio and are fully complementary to the real estate services of property development that the Company currently undertakes.