Board approves 100% stake buy in Westpole Spaces for Rs. 10,000/-; appoints Non-Executive Independent Director

Board approves acquiring 100% equity stake in Westpole Spaces Private Limited, on a cash consideration basis.

Mon 5 Oct 2026

Cost of acquisition

Rs. 10,000/-

Stake acquired

100% equity stake in Westpole Spaces Private Limited

Target paid-up capital

Rs. 10,000/-

Target turnover

NIL

Completion timeline

1 Month

What the board approved

The board of directors, at its meeting on Monday, October 05, 2026, approved two proposals:

• Acquisition of a 100% equity stake of M/s. Westpole Spaces Private Limited, on a cash consideration basis.
• Appointment of Mr. Anish Avinash Nawathe (DIN: 07128963) as an Additional Non-Executive Independent Director of the company, with effect from 05th October 2026.

The meeting commenced at 06:00 P.M and concluded at 06:45 P.M.

About the target company

• Name: Westpole Spaces Private Limited
• Registered office: Pune, Maharashtra, India
• Incorporated on 19/04/2026
• Paid-up capital: Rs. 10,000/-
• Turnover: NIL
• Industry: Real Estate
• The company has not commenced its business operations yet.

Deal structure and stated rationale

• Form of consideration: cash consideration.
• Cost of acquisition: Rs. 10,000/-.
• Shareholding / control acquired: 100%.
• Indicative time period for completion: 1 Month.
• No governmental or regulatory approvals are required for the acquisition of shares in Westpole.
• The stated impact is that the acquisition will lead to business expansion and growth, as the objects of both companies align.
• The proposed transaction is not a related party transaction; the promoter, promoter group and group companies do not have any interest in the proposed transaction.

The new director

• Mr. Nawathe is an Architect with experience of over 12+ years in architectural practice, business development, government liaisoning, client management and project coordination.
• His term as an Independent Director shall be for a period of five (5) years, subject to the approval of shareholders.
• He is not related to any director of the company and is not debarred from holding the office of Director by virtue of any SEBI order or any other such authority.

How to read this

• The acquisition is being done for a cash outgo of Rs. 10,000/-, which is the same as the target's paid-up capital.
• The target was incorporated on 19/04/2026 and has NIL turnover, having not commenced business operations yet, so its financial contribution would follow from its operations going forward.
• The acquisition is not a related party transaction and requires no governmental or regulatory approvals.
• The director's appointment is for a term of five (5) years, subject to shareholder approval.

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