Nimbus Projects Limited (BSE:511714) agreed to acquire remaining 12.08% stake in IITL Nimbus The Express Park View from IITL Projects Limited (BSE:531968) for INR 30.2 million on August 18, 2023. The transaction has been approved by the Board of Directors of IITL Projects Limited and is subject to approval by shareholders of IITL Projects Limited. Nimbus Projects Limited (BSE:511714) entered into an agreement to acquire remaining 12.08% stake in IITL Nimbus The Express Park View from IITL Projects Limited (BSE:531968) on October 6, 2023. IITL Nimbus reported turnover of INR 76.8 million and net worth of INR 120.1 million on June 30, 2023. Board of Directors and shareholders of Nimbus Projects approved the transaction. Completion is subject to approval from nodal agencies. The transaction is expected to complete on October 6, 2023.

Nimbus Projects Limited (BSE:511714) completed the acquisition of remaining 12.08% stake in IITL Nimbus The Express Park View from IITL Projects Limited (BSE:531968) on October 6, 2023.