Ironwood Education Limited has announced a strategic Joint Development Agreement with AVA Lifespaces LLP for the development of a Slum Rehabilitation Authority (SRA) project in Mumbai. The agreement, executed on January 28, 2026, represents a significant expansion into real estate development for the education-focused company.

Project Details and Location

The joint development project is situated at Hanuman Nagar, Vadar Pada, C.T.S. No. 163 A (pt), covering a plot area of 1,752.53 square meters in village Akurli, Kandivali (East), Mumbai – 400101, R/S Ward. The project involves the development of "Navtarun CHS (Prop)" under the SRA framework, which aims to rehabilitate slum dwellers while creating additional commercial opportunities.

Financial Structure and Investment

The agreement establishes a clear financial framework for the joint venture:

The security deposit of INR 5.50 crore will be refunded to Ironwood before the distribution of profits among the parties, ensuring priority recovery of the initial investment.

Responsibilities and Project Management

Under the agreement terms, both parties will jointly obtain necessary approvals and permissions from various authorities including the Slum Rehabilitation Authority (SRA), Municipal Corporation of Greater Mumbai (MCGM), and MHADA. However, Ironwood Education Limited will bear all associated costs, fees, premiums, charges, and expenses.

Key responsibilities include:

• Payment of transit rent to eligible slum dwellers
• Obtaining Annexure III from SRA and Intimation of Approval (IOA)
• Securing Commencement Certificate (CC) for the composite building
• Road demarcation approvals and Civil Aviation Authority clearances
• Complete project financing arrangements

Related Party Transaction Disclosure

The company has disclosed that this transaction qualifies as a related party transaction conducted at arm's length. The relationship stems from family connections between the companies' leadership:

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency in corporate governance and related party transactions.

Source:

Ironwood Education Limited has reported a reduction in promoter shareholding following a preferential allotment of equity shares to non-promoter investors. The disclosure, filed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, was submitted by Balaji Raghavan on behalf of the promoter and promoter group on January 24, 2026.

Shareholding Changes

The promoter group's collective shareholding in the company decreased from 73.61% to 66.11% due to the preferential allotment of 17,11,670 equity shares to non-promoter group investors on January 22, 2026. While the absolute number of shares held by promoters remained unchanged, their percentage shareholding was diluted due to the increase in the company's total share capital.

Promoter Group Composition

The promoter group of Ironwood Education Limited comprises nine entities and individuals. The major promoter shareholders and their post-allotment holdings include:

Capital Structure Impact

The preferential allotment resulted in an increase in the company's equity share capital from ₹ 15,06,89,560 to ₹ 16,78,06,260. The total number of equity shares outstanding increased from 1,50,68,956 to 1,67,80,626 shares, each with a face value of ₹ 10. The allotment was conducted under the SEBI ICDR Regulations, 2018.

Regulatory Compliance

The disclosure was made in compliance with SEBI regulations governing substantial acquisition of shares and takeovers. The filing confirms that no promoter or promoter group entity acquired additional shares during this transaction. The change in shareholding percentage is solely attributed to the dilution effect of the preferential allotment to non-promoter investors. The company's shares are listed on BSE Limited.