Target Entities:

The acquisition involves four joint venture companies:

1. Shrivision Towers Private Limited

2. SPL Towers Private Limited

3. Shriprop Living Space Private Limited

4. Shriprop Hitech City Private Limited

Type of Deal: Acquisition of minority stakes in ongoing joint ventures

Stake Acquired:

  • Shrivision Towers Private Limited: 49% stake
  • SPL Towers Private Limited: 49% stake
  • Shriprop Living Space Private Limited: 49% stake
  • Shriprop Hitech City Private Limited: 50% stake

Deal Value (Cash Consideration):

  • Shrivision Towers: ₹2,200 lakhs
  • SPL Towers: ₹0.50 lakhs
  • Shriprop Living Space: ₹1,499.40 lakhs
  • Shriprop Hitech City: ₹0.10 lakhs
  • Total Acquisition Cost: ₹3,700 lakhs

Financial Impact:

The target entities show varying financial profiles:

Shrivision Towers Private Limited:

  • Paid-up Share Capital: ₹102 lakh
  • Turnover FY26: ₹1,621.30 lakh
  • Historical Turnover: FY25: ₹19,739.04 lakh, FY24: ₹12,189.59 lakh

SPL Towers Private Limited:

  • Paid-up Share Capital: ₹1 lakh
  • Turnover FY26: ₹35,639.63 lakh
  • Historical Turnover: FY25: ₹6,841.31 lakh, FY24: ₹541.58 lakh
  • Shows significant growth from FY24 to FY26

Shriprop Living Space Private Limited:

  • Paid-up Share Capital: ₹1 lakh
  • Turnover FY26: ₹25,980.11 lakh
  • Historical Turnover: FY25: ₹12,251.54 lakh, FY24: ₹74.09 lakh
  • Shows substantial growth from FY24 to FY26

Shriprop Hitech City Private Limited:

  • Paid-up Share Capital: ₹0.10 lakh
  • Turnover FY26: Nil
  • Historical Turnover: FY25: Nil, FY24: Nil

Strategic Rationale:

The acquisition is of strategic nature and for business reasons. All entities are in the real estate sector, specifically property development and construction, which aligns with Shriram Properties' main line of business.

Approval Status:

  • No governmental or regulatory approvals required (Not Applicable)
  • Not related party transactions (no promoter/promoter group/group company interest)
  • All transactions conducted at arm's length

Timeline:

The acquisition was completed on September 30, 2026, as per the indicative time period for completion.

Background of Acquired Entities:

All four companies are engaged in property development business:

  • Shrivision Towers: Incorporated July 21, 2008 under Companies Act, 1956
  • SPL Towers: Incorporated February 12, 2016 under Companies Act, 2013
  • Shriprop Living Space: Incorporated September 4, 2014 under Companies Act, 2013
  • Shriprop Hitech City: Incorporated January 20, 2016 under Companies Act, 2013