Ajmera Realty: Additional 2% equity shares issued
Real Estate

Ajmera Realty: Additional 2% equity shares issued

Ajmera Realty & Infra India Ltd (ARIIL) has issued additional equity shares as a marginal benefit to its stakeholders due to the de-merger with Radha Raman Dev Ventures, a wholly-owned subsidiary. The de-merger was approved by the National Company Law Tribunal (NCLT) on July 4, 2024. Under the scheme of arrangement, ARIIL has allotted one equity share with a face value of Rs 10 for every 50 shares held by its equity shareholders.

Dhaval Ajmera, the director of the company, stated that the de-merger is a strategic move made in the best interest of the company's growth and development. He noted that as a result of the de-merger, shareholders have achieved a marginal gain of one additional share for every 50 shares held, equating to a 2% monetary gain. ARIIL has issued an additional 709,698 equity shares, bringing the total expanded capital to 3,619,457 equity shares.

This de-merger involves the transfer of a 6.5-acre land parcel at I-land Wadala, with plans to develop a mixed-use project on the site. The intention behind the de-merger is to segregate the business related to the development of this mixed-use project into a separate company, namely Radha Raman Dev Ventures, which will be a 100% subsidiary.

Ajmera Realty & Infra India Ltd (ARIIL) has issued additional equity shares as a marginal benefit to its stakeholders due to the de-merger with Radha Raman Dev Ventures, a wholly-owned subsidiary. The de-merger was approved by the National Company Law Tribunal (NCLT) on July 4, 2024. Under the scheme of arrangement, ARIIL has allotted one equity share with a face value of Rs 10 for every 50 shares held by its equity shareholders. Dhaval Ajmera, the director of the company, stated that the de-merger is a strategic move made in the best interest of the company's growth and development. He noted that as a result of the de-merger, shareholders have achieved a marginal gain of one additional share for every 50 shares held, equating to a 2% monetary gain. ARIIL has issued an additional 709,698 equity shares, bringing the total expanded capital to 3,619,457 equity shares. This de-merger involves the transfer of a 6.5-acre land parcel at I-land Wadala, with plans to develop a mixed-use project on the site. The intention behind the de-merger is to segregate the business related to the development of this mixed-use project into a separate company, namely Radha Raman Dev Ventures, which will be a 100% subsidiary.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code