Prozone Realty Limited — Important, 15-01-2025: Updates

The draft letter of offer indicates that Apax Trust, led by trustee Mr. Nikhil Chaturvedi, plans to acquire up to 3,96,76,750 fully paid-up equity shares of Prozone Realty Limited at an offer price of ₹25 per share, totaling a maximum consideration of ₹99.19 crore. This offer follows a share purchase agreement for acquiring 4,39,95,788 shares from the seller, Nailsfield Limited, representing 28.83% of the target company’s equity.

No minimum acceptance level is stipulated for the open offer, which opens on February 20, 2025, and closes on March 7, 2025. Shareholders can accept the offer via a stock exchange mechanism. The transaction is subject to regulatory approvals and the terms specified in the detailed public statement and draft letter of offer. Following the acquisition, Chaturvedi’s stake, along with shares owned through the family trust, may constitute around 54.83% of Prozone Realty Limited.

Key financial results from recent audits show fluctuations in revenue and profitability, with a profit after tax of ₹39.41 lakh for the half-year ending September 30, 2024. Public shareholders should be aware of the tax implications based on their shareholding status and consult tax advisors as needed.