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Nimbus Projects' Board has approved converting its 95%-owned partnership firm, IITL-Nimbus, The Express Park View, into a private limited company. The new entity, "IITL Nimbus The Express Park View Private Limited," will become a subsidiary, with NPL holding 95% of its equity capital. This move formalizes NPL's stake in a key real estate development venture, continuing its business in residential and commercial projects. NPL will receive 10,23,750 equity shares of Rs. 10 each in the new subsidiary, converting its capital contribution of Rs. 1.02375 crore from the firm. This strategic step streamlines operations in the real estate sector.