Max Estates Limited has successfully completed its acquisition of Base Buildwell Private Limited (BBPL), transforming the target company into a wholly-owned subsidiary effective December 26, 2025. The completion was formally communicated to stock exchanges as an update to the company's earlier intimation dated September 6, 2025.

Acquisition Details

The acquisition encompasses the complete ownership structure of BBPL, with Max Estates acquiring 100% of both equity share capital and Compulsorily Convertible Debentures (CCDs). The transaction structure demonstrates a comprehensive takeover approach.

This acquisition represents 100% of BBPL's share capital on a fully diluted basis, ensuring complete control and ownership for Max Estates.

Regulatory Compliance

The completion follows proper regulatory procedures under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transaction was conducted in accordance with Regulation 30 and Schedule III, along with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

The formal completion occurred on December 26, 2025 at 17:00 hours IST, marking the official transition of BBPL to wholly-owned subsidiary status. All required details under the SEBI Master Circular were previously provided in the September 6, 2025 intimation.

Strategic Implications

With BBPL now operating as a wholly-owned subsidiary, Max Estates has expanded its corporate structure and operational capabilities. The acquisition provides the company with complete control over BBPL's assets, operations, and strategic direction, potentially enhancing its position in the real estate sector.

The transaction represents a significant corporate development for Max Estates, demonstrating its commitment to growth through strategic acquisitions and subsidiary expansion.

Max Estates Limited announced the grant of 10,04,512 stock options under its Employee Stock Option Plan 2023. The company's Nomination and Remuneration Committee approved this significant employee benefit initiative.

Stock Option Grant Details

The comprehensive stock option grant encompasses several key parameters designed to align employee interests with company performance:

Vesting Schedule Structure

The stock options follow a structured 4-year vesting schedule designed to promote employee retention and long-term commitment:

Regulatory Compliance

The stock option grant operates in full compliance with regulatory frameworks. The scheme adheres to SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, ensuring proper governance and transparency. The pricing formula follows SEBI guidelines, and the company has confirmed that requirements under SEBI circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, are not applicable to this grant.

Administrative Framework

Max Estates' ESOP Plan 2023 is administered and implemented by the company's Nomination and Remuneration Committee in accordance with extant regulations. This governance structure ensures proper oversight and compliance with all applicable rules and guidelines. The committee's approval demonstrates the company's commitment to structured employee benefit programs that support talent retention and motivation.

The stock option grant represents a significant employee benefit initiative, providing eligible employees with the opportunity to participate in the company's growth through equity ownership. The 2-year exercise period following each vesting date offers flexibility for option holders to exercise their rights based on market conditions and personal financial planning.