Man Infraconstruction Limited announced that Admire 1250 LLC, an associate of MICL Global, INC, a wholly-owned subsidiary, has acquired a 15.385% ownership interest in 1250 JV LP as of August 29, 2025. The announcement pertains to compliance under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Details of the Acquisition
The target entity, 1250 JV LP, is involved in real estate development. As of the announcement date, the size and turnover of 1250 JV LP are reported as nil, with the entity in the initial stages of commencing business operations. The initial capital contribution by Admire 1250 LLC is US $10 million.
The acquisition does not fall within related party transactions, and neither the promoter nor the promoter group has any interest in the entity. 1250 JV LP was registered in Delaware, USA, in May 2024, to carry out real estate development and other lawful activities.
The acquisition's objective is to facilitate real estate development and other related activities. No governmental or regulatory approvals are required for this acquisition, and the indicative time period for completion is not applicable. The nature of consideration is cash.
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