Ajmera Realty & Infra India Ltd Issues Additional Equity Shares Following De-merger
Ajmera Realty & Infra India Ltd (ARIIL) recently announced the issuance of additional equity shares as a marginal gain to its stakeholders. This move comes in light of the de-merger between ARIIL and its 100% subsidiary, Radha Raman Dev Ventures Pvt Ltd. The National Company Law Tribunal (NCLT) approved the de-merger on July 4, 2024.
Under the scheme of Arrangement, ARIIL has allotted 1 equity share with a face value of INR 10 each for every 50 shares held to its equity shareholders. The record date for finalizing this allocation was set as August 2, 2024. As a result, ARIIL has issued an additional 7,09,698 equity shares, expanding its capital to 3,61,94,573 equity shares.
A Strategic Move to Tap into Growth Potential
The purpose of this de-merger is to transfer a 6.5-acre land undertaking at I-land Wadala. ARIIL plans to develop a mix-use project on this vast piece of land. With the de-merger, the company aims to segregate this business segment and create a separate entity, Radha Raman Dev Ventures Pvt Ltd, as a 100% subsidiary. This move is expected to leverage the growth potential of the project to its fullest extent.
Dhaval Ajmera, Director, Ajmera Realty & Infra India Ltd, commented on this strategic decision, stating, “The de-merger is a well-considered move determined in the best interest of the company’s growth and development. As a result of this de-merger, our shareholders have achieved a marginal gain of 1 additional share for every 50 shares held, equating to a 2% monetary gain. We are dedicated to capitalizing on the high-octane growth of the real estate sector and further strengthening our growth momentum.”
Leveraging Growth in the Real Estate Sector
The real estate sector has been experiencing significant growth, and Ajmera Realty & Infra India Ltd aims to capitalize on this trend. By conducting the de-merger and separating the mix-use project into a dedicated subsidiary, ARIIL seeks to maximize opportunities and ensure focused growth in this specific business segment.
This move highlights the company’s commitment to not only leveraging the potential of their current ventures but also exploring new avenues within the real estate market. With a larger capital base and a strategic focus on growth, ARIIL aims to emerge as a key player in the rapidly growing real estate sector.
Promoting Growth and Development
Ajmera Realty & Infra India Ltd’s decision to issue additional equity shares following the de-merger demonstrates its dedication to shareholder value and promoting growth. By providing marginal gains to stakeholders, the company aims to reward their commitment and trust in its long-term prospects.
The expanded capital base and the segregation of the mix-use project into a separate subsidiary are expected to unlock growth opportunities and facilitate streamlined operations. As ARIIL continues to navigate the ever-evolving real estate landscape, their focus on leveraging the growth potential and bolstering the company’s overall momentum remains unwavering.
As ARIIL progresses with its plans for the 6.5-acre land undertaking at I-land Wadala, industry stakeholders will be keeping a close watch on their future developments and how this strategic move unfolds.
