Nimbus Projects Ltd — Updates, 14-05-2025: Company Update

Nimbus Projects Limited has announced a board meeting. The company has acquired 99.80% of Pelican Realty Ventures Private Limited by virtue of a Scheme of Arrangement involving the amalgamation of multiple entities into Nimbus. Pelican Realty, a real estate business incorporated in 2007 with a turnover rising from Rs. 8.77 lakh in FY22 to Rs. 1.31 crore in FY24, has become a subsidiary of Nimbus. The acquisition was executed through the transfer of shares from Padma Estates Private Limited as part of the scheme, conducted on an arm’s length basis despite being a related party transaction.