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

Nimbus Projects Limited has announced a board meeting to inform stakeholders about its indirect acquisition of 71.88% share capital in IITL Projects Limited through a Scheme of Arrangement involving the amalgamation of nine private transferor companies into Nimbus. IITL Projects Limited operates in the real estate sector with a paid-up capital of Rs. 11.99 Cr and a turnover of approximately Rs. 2.50 Cr for FY 2023-24. This acquisition strengthens Nimbus's presence in the real estate business via increased control over IITL Projects Limited, which is a subsidiary of Industrial Investment Trust Limited (IITL). The transaction is related-party and completed on an arm’s length basis.