Denis Desai, Denis Desai HUF, Aruna Desai, Dhara Desai and Arunis Financial and Management Consultant Private Limited agreed to acquire 51% stake in Arunis Edifice Private Limited from Arunis Abode Limited (BSE:526935) for INR 0.77 million on July 19, 2022. Under the terms of agreement, Arunis Abode, transfer 76,500 (51.00%) Equity Shares of Rs. 10/- each held in its wholly owned subsidiary i.e. Arunis Edifice Private Limited. The total consideration to be received disposal INR 0.765 million. Consequently, after transfer of said shares, Arunis Edifice Private Limited will cease to be wholly owned subsidiary of the Company, however it will continue to be ‘Associate Company' of the Company in terms of provisions of Section 2(6) of the Companies Act, 2013. For the financial year ended 31th March, 2022, Arunis Edifice had net worth of INR 1.4 million. Board of Directors have approved the transaction to sell Arunis Edifice. The transaction is expected to close by July 26, 2022.

Denis Desai, Denis Desai HUF, Aruna Desai, Dhara Desai and Arunis Financial and Management Consultant Private Limited completed the acquisition of Arunis Edifice Private Limited from Arunis Abode Limited (BSE:526935) on July 19, 2022.