Max Estates Acquires 84.7 Acres in Delhi via ₹420 Crore Share Swap

Max Estates Limited has announced a significant strategic move involving the acquisition of the entire ownership interest in nine Land Owning Companies for approximately ₹420.23 crore. This composite transaction, approved by the Board of Directors on August 28, 2026, includes the acquisition of Trophy Estates Private Limited, TVP Investments Private Limited, Hometrail Properties Private Limited, TR Asset Ventures Private Limited, Wegmans Business Park Private Limited, Seven Heaven Buildmart Private Limited, Vitasta Estates Private Limited, Trophy Resorts & Guest Houses Private Limited, and Synergy Infracon Private Limited.

These acquired companies collectively hold an approximately 84.7-acre land platform situated in Sector 3, Najafgarh, Delhi. Following the acquisition, each of these companies will become a wholly-owned subsidiary of Max Estates. The consideration for this acquisition will be discharged through a preferential issue, for consideration other than cash, by way of a share swap. Max Estates will issue up to 70,33,162 equity shares of face value ₹10 each at an issue price of ₹597.50 per share.

The acquisition is strategically aligned with the Master Plan for Delhi-2047, particularly the land pooling framework, and is expected to strengthen the company's development pipeline, offering an estimated 4-6 million sq. ft. of development potential. The transaction is subject to shareholder approval at an Extra-Ordinary General Meeting (EGM) scheduled for September 24, 2026, as well as approvals from the stock exchanges and other regulatory bodies. The company tentatively expects to complete the composite transaction by October 9, 2026.