MICL Global, INC, a wholly owned subsidiary of Man Infraconstruction Limited, has acquired a 50% membership interest in Admire 1250 LLC effective August 26, 2025. This acquisition is aimed at carrying out real estate development and other lawful activities.
The details of the acquisition are provided below:
| Particulars | Details |
|---|---|
| Name of the Target entity | Admire 1250 LLC |
| Size/Turnover | NIL (Yet to Commence Business operations) |
| Related Party Transaction | Not a Related Party Transaction. Admire 1250 LLC is an associate of MICL Global, INC, a wholly owned subsidiary of the Company. |
| Promoter Interest | The Promoter and Promoter Group have no interest in the above entity, except Mr. Vatsal Shah (Promoter Group), who would be appointed as a Manager of the entity. |
| Industry | Real Estate Development |
| Objects and effects of acquisition | For carrying out business of Real Estate Development and other lawful activities. |
| Governmental or regulatory approvals | NA |
| Time period for completion | NA |
| Nature of consideration | Cash Consideration |
| Cost of acquisition | Initial Capital contribution of US $ 5 million. |
| Percentage of shareholding | MICL Global, INC holds 50% interest in Admire 1250, LLC. |
| Background of the entity | Admire 1250, LLC is an Associate entity of MICL Global, INC. Admire 1250, LLC has been incorporated in State of Delaware, USA in August, 2025 to inter-alia carry on the business of Real Estate Development and other lawful activities and is in the initial stage of commencement of business operations. |
Admire 1250 LLC was incorporated in August 2025 in the State of Delaware, USA, and is in the initial stage of commencing business operations.
The acquisition is for carrying out business of Real Estate Development and other lawful activities.
The details as required under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July 2023, is given as under:
The acquisition is for carrying out business of Real Estate Development and other lawful activities.
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