Balgopal Commercial Ltd announced that its wholly owned subsidiary, Esquire Real Estate & Bio-infocom Pvt. Ltd, has secured a Letter of Award from the Slum Rehabilitation Authority (SRA), Mumbai for a significant redevelopment project. The project involves the redevelopment of land admeasuring 19,967.36 square meters located at Sion Kokari Agar, Shaikh Mistry Road, Antop Hill, Mumbai-400 037. This development is expected to generate a free sale component of approximately 5.87 lakh square feet, with an estimated Gross Market Value (GMV) of Rs 1200 crores.

The entitlement of the free sale component is subject to the provisions of the Development Control & Promotion Regulations for Greater Mumbai, 2034 and other applicable laws. The approval received from SRA Mumbai is considered to be in the ordinary course of business for the subsidiary. This development enables the subsidiary to proceed further with the proposed project, contingent upon compliance with the conditions specified in the Letter of Award and the receipt of other requisite approvals from the concerned authorities.

Project Details

The disclosure was made to the BSE Limited under Regulation 30 of the Securities Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015. The filing was signed by Ankit Ladha, Company Secretary & Compliance Officer of balgopal commercial .

Balgopal Commercial Limited disclosed that promoter Sandeep Jindal increased his stake in the company by acquiring 23,38,000 equity shares through the conversion of warrants. The acquisition, valued at Rs. 10,52,10,000, raised Jindal's total shareholding to 16.25% following the allotment on June 6, 2026.

The company received the disclosure in Form C on June 8, 2026, under Regulation 7(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015. The shares were allotted pursuant to the conversion of warrants previously issued to Jindal on a preferential basis.

Prior to the acquisition, Jindal held 14,38,801 equity shares, representing 6.88% of the company's paid-up capital. The newly acquired shares account for 10.06% of the equity, resulting in a post-acquisition holding of 37,76,801 shares.

The transaction value was calculated based on the balance 75% payment made for the conversion of warrants, with an issue price of Rs. 60 per share. The mode of acquisition was classified as a preferential issue involving the conversion of warrants.

The following table details the change in Sandeep Jindal's shareholding:

The disclosure was submitted to BSE Limited, where the company is listed under the scrip code 539834. Ankit Ladha, Company Secretary and Compliance Officer for Balgopal Commercial Limited, confirmed the receipt of the disclosure.