Prozone Realty Limited announced that its step-down wholly-owned subsidiary, Empire Mall Private Limited, has acquired a 100% stake in Festivalvalley Developers Private Limited (FVDPL). The acquisition, completed on July 20, 2026, for a cash consideration of ₹1,00,000, aligns with the company's objective to expand its business and related investments. Following the transaction, FVDPL has become a step-down subsidiary of Prozone Realty .

The subsidiary acquired 10,000 equity shares, representing the entire equity capital of FVDPL, at a price of ₹10 per share. The transaction does not constitute a related party transaction, and no government or regulatory approvals were required for the completion. The acquisition was finalized within 15 days of the approval from the Board of Directors of Empire Mall Private Limited.

Target Entity Profile

Festivalvalley Developers Private Limited is engaged in the business of real estate constructions and developments. The entity was incorporated on January 24, 2020, and operates solely within India. According to the disclosure, the target entity has reported nil turnover for the last three financial years, including FY 2025-2026.

Financials of Festivalvalley Developers

The acquisition was intimated to the exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Prozone Realty has successfully completed the acquisition of a 17.507% equity stake in Gajaanan Property Developers Private Limited. The transaction was finalized on July 3, 2026, with the shares purchased from Festival Valley Developers Private Limited. This strategic move expands Prozone Realty's footprint in the property development sector.

The acquisition was disclosed under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company had initially informed the exchanges about the proposed transaction on April 28, 2026. The necessary details, as required by Schedule III of the Listing Regulations and SEBI master circular no. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 issued on January 30, 2026, were provided in the earlier filing.

Transaction Details

The following table outlines the key specifics of the acquisition:

This completion marks the conclusion of the process initiated earlier this year. The regulatory filings confirm that all required disclosures have been adhered to, ensuring compliance with the relevant SEBI regulations. The acquisition is now effective, and the stake has been transferred to Prozone Realty.