Nimbus Projects Limited (BSE:511714) entered into an agreement to acquire unknown stake in Iitl Nimbus The Palm Village from IITL Projects Limited (BSE:531968) for INR 220 million on August 18, 2023. The board of IITL approved the deal. The transaction is conditional on prior approval of shareholders of IITL Projects and is expected to close on or before March 31, 2024.

Nimbus Projects Limited (BSE:511714) completed the acquisition of unknown stake in Iitl Nimbus The Palm Village from IITL Projects Limited (BSE:531968) on October 16, 2023. IITL Projects executed Tripartite Agreement with Nimbus Projects Limited and IITL Nimbus The Palm Village and Supplementary Deed of Admission cum Retirement with Nimbus Projects Limited and Nimbus Propmart Private Limited, whereby IITL Projects Limited is the retiring partner.