Kolte - Patil Developers Limited — Board Meeting, 13-03-2025: Outcome of Board Meeting

The Board of Directors of Kolte-Patil Developers Ltd. has approved a preferential issue of 1,26,75,685 equity shares at ₹329 per share, aggregating to ₹417.03 crore, to BREP Asia III India Holding Co VII Pte. Ltd. The transactions include a Share Subscription Agreement and a Share Purchase Agreement, allowing the Acquirer to obtain a 14.3% stake and acquire 25.7% from existing promoters. An extraordinary general meeting is scheduled for 10 April 2025 to seek shareholder approval for these transactions and the necessary amendments to the Articles of Association.