Board Extends Completion Date for Additional 15% Stake Buy in Elika Realestate to 31 December 2026
Board approved extending the completion date for the proposed additional 15% equity acquisition in Elika Realestate Pvt Ltd from 30 Sep 2026 to 31 Dec 2026.
- Additional Equity Stake
- 15%
- New Completion Date
- 31 December 2026
- Acquisition Cost
- Up to Rs. 5.50 lakhs (approximately)
- Post-Acquisition Holding
- 60% with control
- Target's Turnover FY24-26
- NIL
What was shared
Gamco Limited informed BSE, in continuation of its earlier disclosure dated 21 July 2026, that the Board of Directors approved an extension of the completion date for the proposed additional investment in Elika Realestate Private Limited.
- The acquisition is of an additional 15% equity stake.
- Completion date moved from 30th September, 2026 to 31st December, 2026.
- Stated objective: strategic expansion and overall business growth.
Deal terms
- Cost of acquisition: up to Rs. 5.50 lakhs (approximately).
- Nature of consideration: cash.
- On completion, aggregate holding would be 60%, along with control acquired.
About the target
- Elika Realestate Private Limited is engaged in the real estate business, with presence in India.
- Date of incorporation: 29/03/2019.
- Turnover: NIL for the year 2024, NIL for 2025 and NIL for 2026 (financial year ending March 31, 2026).
Related party angle
The company states the acquisition constitutes a related party transaction to the extent of 5% to be acquired from the Promoter Group, and that the transaction has been undertaken on an arm's length basis.
How to read it
This is a timeline extension rather than a change in the deal's size or price. The amount involved is small in absolute terms, while the stake takes the company to a controlling 60% position in a real estate entity that has reported nil turnover in each of the last three years. Investors may watch for the completion confirmation on or before the revised date.
More numbers
- Additional equity stake to be acquired15%
- Cost of acquisitionUp to Rs. 5.50 lakhs (approximately)
- Aggregate holding after completion60%
- Stake acquired from Promoter Group (related party)5%
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