Ajmera Realty & Infra India Ltd (ARIIL) has announced a strategic demerger, resulting in a marginal gain for its shareholders. The demerger, approved by the National Company Law Tribunal (NCLT), involves the transfer of a 6.5-acre land parcel to a 100% subsidiary, Radha Raman Dev Ventures Pvt Ltd. As part of the Scheme of Arrangement, ARIIL has allotted 1 equity share for every 50 shares held by its shareholders, a 2% monetary gain. The move aims to leverage the growth potential of the mixed-use project planned on the land and bolster ARIIL's overall growth momentum in the thriving real estate sector.
Ajmera Realty & Infra India Ltd (ARIIL) has issued additional equity shares as a marginal gain to its shareholders. This is due to the demerger between ARIIL and its 100% subsidiary, Radha Raman Dev Ventures Pvt Ltd.
The demerger was approved by the National Company Law Tribunal (NCLT) on July 4, 2024. As per the Scheme of Arrangement, ARIIL has allotted 1 equity share with a face value of INR 10 each for every 50 shares held by its equity shareholders, which translates to a 2% monetary gain. The record date for finalizing the same was set as August 2, 2024 by the company. This has resulted in the issuance of an additional 7,09,698 equity shares, leading to an expanded capital of 3,61,94,573 equity shares of ARIIL.
The demerger is for the transfer of an undertaking of 6.5 acres of land at I-land Wadala. The plan is to develop a mixed-use project on this 6.5-acre land. Through this demerger, the business pertaining to the development of the mixed-use project will be segregated into a separate company, i.e., the 100% subsidiary, Radha Raman Dev Ventures Pvt Ltd, to leverage the growth potential of the project to its optimum.
Commenting on the development, Dhaval Ajmera, Director of Ajmera Realty & Infra India Ltd, said that the demerger is a strategic decision made in the best interest of the company's growth and development.
The demerger and resulting shareholder rewards demonstrate Ajmera Realty's commitment to creating value for its investors while strategically positioning the company for future growth. By segregating the development of the mixed-use project into a dedicated subsidiary, ARIIL can focus on capitalizing on the robust real estate market and accelerating its expansion plans. This strategic move is expected to strengthen the company's foothold in the industry and unlock new opportunities for Ajmera Realty to deliver sustainable growth and enhanced returns for its shareholders.
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