Tulive Developers Limited, a real estate company, has released its unaudited financial results for the half-year ended September 30, 2025, revealing a net loss and a substantial decrease in cash reserves.

Financial Performance

The company's board of directors approved the unaudited financial results in a meeting held on November 14, 2025. The key financial highlights for the half-year period are as follows:

The financial results show a reduction in net loss compared to the same period in the previous year. However, the company experienced a significant decline in its cash and cash equivalents, dropping by 97.52% from ₹307.88 lakhs to ₹7.64 lakhs. Total assets also saw a marginal decrease of 1.00%.

Corporate Developments

In addition to the financial results, Tulive Developers Limited disclosed information about a potential delisting of its equity shares. The company has appointed S.A.E. & Associates LLP to carry out due diligence in accordance with the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021.

This appointment follows an initial public announcement made on November 10, 2025, where Altis Properties Private Limited and GKS Technology Park Private Limited, along with certain persons acting in concert, expressed their intention to voluntarily delist the equity shares of Tulive Developers Limited.

The company stated that the appointed firm, S.A.E. & Associates LLP, holds a peer-reviewed certificate valid until November 30, 2027, and is currently serving as the Secretarial Auditor of the company.

Conclusion

While Tulive Developers Limited has managed to reduce its net loss compared to the previous year, the substantial decrease in cash reserves and the ongoing delisting process may raise concerns among investors. Stakeholders should closely follow the company's future announcements and the outcome of the due diligence process related to the potential delisting.

Tulive Developers Limited has announced its intention to voluntarily delist from the BSE Limited, as per a recent disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Delisting Proposal Details

The company has issued a postal ballot notice seeking shareholder approval through special resolution for the voluntary delisting of its equity shares from BSE Limited. The e-voting for this proposal is scheduled from December 2-31, 2025.

Key Aspects of the Delisting Offer

Objectives of the Delisting

The delisting aims to:

1. Provide full ownership to acquirers and promoters
2. Increase financial flexibility
3. Reduce compliance costs
4. Offer public shareholders an exit opportunity

Pricing and Approval Process

• The board has set a floor price of Rs. 719.30 per share
• An indicative price of Rs. 750.00 per share has been proposed
• The company will seek public shareholder approval through postal ballot
• The e-voting period is set from December 2-31, 2025

Acquirers and Promoter Group

The delisting proposal involves the acquisition of public shareholding by promoter group entities:

• Altis Properties Private Limited ("Acquirer 1")
• GKS Technology Park Private Limited ("Acquirer 2")

These entities are acting in concert with Atul Gupta and K V Ramana Shetty, who are part of the promoter group.

Next Steps

Shareholders and potential investors should note that while the board has approved the delisting proposal and initiated the postal ballot process, further steps are required to complete the delisting. The company will need to obtain shareholder approval through the postal ballot and follow other regulatory procedures outlined by SEBI before the delisting can be finalized.

Investors are advised to keep a close watch on further announcements from Tulive Developers regarding the progress of this delisting proposal, including the outcome of the postal ballot and any updates to the offer price.

Disclosure

This article is based on the latest information provided by Tulive Developers. The details of the delisting proposal, including the floor price and indicative price, are subject to shareholder approval and may be subject to changes as the delisting process progresses.