Nimbus Projects Ltd — Important, 28-07-2026: Company Update

Nimbus Projects' board approved converting the IITL-Nimbus, The Palm Village partnership firm into a private limited company, "IITL Nimbus The Palm Village Private Limited." NPL, currently holding 95% capital in the firm, will receive 10 lakh equity shares worth Rs. 1 crore in the new entity, maintaining its 95% stake. This conversion makes the new company a subsidiary of NPL, continuing its focus on real estate development, including construction, sales, and management of residential and commercial projects. This move strengthens NPL's control over the venture.