Prozone Realty Limited (PROZONER) — Announcement | 28 April 2026(3 announcements)

Prozone Realty announced on April 28, 2026 that its board approved the hiving off of land assets from Alliance Mall Developers and Empire Mall into separate SPVs, along with the sale of identified material subsidiaries to Inorbit Malls and the acquisition of a 17.507% stake in GPDPL. The transaction involves estimated consideration of Rs.44 crores for the sale and Rs.24 crores for the GPDPL stake, with shareholder approval sought via postal ballot. The company emphasized these steps support future development and targeted stakeholder value creation.

Prozone Realty announced board approval to hive off land assets of Alliance Mall and Empire Mall into separate SPVs and sell identified material subsidiaries including Kruti, Alliance, and Empire to Inorbit Malls, with an estimated consideration of Rs.44 crores, while seeking shareholder approval via postal ballot for the disinvestment and hiving-off transaction.

Prozone Realty announced on April 28, 2026, that its board approved the hiving off of land assets from Alliance Mall Developers and Empire Mall into separate SPVs, and the sale of identified material subsidiaries to Inorbit Malls or its affiliates. The transaction includes disposal of 100% of Kruti Developers, 51.95% of Alliance, and 34.71% of Empire, with estimated consideration of Rs.44 Crores. The board also sought shareholder approval via postal ballot for these disposals and an acquisition of 17.507% in GPDPL.