Hubtown Limited shareholders and creditors have approved the merger of Saicharan Consultancy Private Limited and 25 West Realty Private Limited with the company, sanctioning two Schemes of Arrangement under Sections 230 to 232 of the Companies Act, 2013. The resolutions were passed during meetings convened pursuant to the directions of the National Company Law Tribunal (NCLT), Mumbai Bench. While the schemes have been approved by equity shareholders and unsecured creditors with the requisite majority, they remain subject to the sanction of the Hon'ble NCLT and other statutory approvals.

Strategic Rationale

The amalgamation of Saicharan Consultancy Private Limited is a strategic initiative to consolidate Hubtown's ownership in Rare Townships Private Limited, a subsidiary developing the "Rising City" project in Ghatkopar (East), Mumbai. Saicharan Consultancy Private Limited held a 21.17% equity stake in Rare Townships Private Limited at the time of the Board's approval, and the merger is expected to increase Hubtown's revenue share in the project by 21.17%. The merger of 25 West Realty Private Limited involves the integration of a super-luxury residential project located at Bandra (West), Mumbai, which is expected to generate total revenue of approximately ₹6,000 crores. These schemes are intended to strengthen the revenue base and profitability of the company through the consolidation of business operations and ownership interests in key real estate projects.

Merger Terms

The schemes specify the exchange ratios for the equity shareholders of the transferor companies. The allotment of shares is subject to the schemes becoming effective and the receipt of all requisite approvals.

Project Status

The "Rising City" project in Ghatkopar comprises 6 residential buildings. Five buildings have been completed and have received Occupation Certificates (OC), while the last building is expected to be completed by March 2027. The "25 West" project is positioned to generate strong demand and financial returns given its prime location and premium positioning in Bandra (West), Mumbai.

Hubtown Ltd has closed its trading window for designated persons and their immediate relatives from July 1, 2026, until 48 hours after the declaration of its unaudited financial results for the quarter ended June 30, 2026. The restriction prevents insiders from dealing in equity shares during this period to ensure compliance with regulatory standards and maintain market integrity.

The closure follows the provisions of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, and the company's Code of Conduct for Prevention of Insider Trading. All designated persons, their immediate relatives, and other insiders are advised to refrain from trading in the company's securities during the specified timeframe.

The trading window will reopen 48 hours after the unaudited financial results for the quarter ended June 30, 2026, are officially declared and disseminated to the stock exchanges. This standard cooling-off period allows market information to be assimilated before trading resumes for insiders.