Max Estates to Acquire 84.7 Acres in Delhi for ₹420 Crore via Share Swap

Max Estates Limited has announced a significant strategic move with the approval of the acquisition of the entire ownership interest in nine Land Owning Companies. These companies collectively hold an approximately 84.7-acre land platform in Sector 3, Najafgarh, Delhi.

This proposed acquisition, valued at ₹420.23 crore, will be discharged through a preferential issue of up to 70,33,162 equity shares of Max Estates Limited at an issue price of ₹597.50 per share. The transaction is structured as a share swap and is considered a single, integrated, and composite deal. Upon completion, each of the acquired Land Owning Companies will become a wholly-owned subsidiary of Max Estates.

The acquisition is strategically aligned with the Master Plan for Delhi-2047 and aims to leverage the land pooling framework to create a substantial long-term development platform. The acquired land has the potential for an estimated 4-6 million sq. ft. of development, which is expected to bolster the company's development pipeline and establish Delhi as a core growth market alongside Noida and Gurugram.

The Board of Directors has approved convening an Extra-Ordinary General Meeting (EGM) of the members to seek approval for this transaction. The EGM is scheduled to be held on September 24, 2026. The company tentatively expects to complete the entire composite transaction, including the preferential issue, on or before October 9, 2026, subject to necessary approvals from shareholders and stock exchanges.