Lodha Developers Limited has informed the exchanges that Thane Commercial Tower A Management Private Limited ceased to be its wholly owned subsidiary with effect from June 10, 2026. Lodha Developers disclosed the development to the BSE and the National Stock Exchange under the SEBI listing regulations.
Thane Commercial was incorporated solely for providing infrastructure, facility management and allied services for the commercial building Lodha iThink-Tower A situated at Eastern Express Highway, Chirak Nagar, Thane West. The building is held by multiple unit holders under the Maharashtra Ownership Flats Act, 1963.
Under contractual arrangements with these unit holders and Section 11 of the Maharashtra Ownership Flats Act, 1963, Lodha Developers is transferring proportionate equity shares of Thane Commercial to each unit holder corresponding to their ownership in the project. The transaction is a transfer of rights and does not involve a sale agreement or any consideration.
The subsidiary reported nil turnover and revenue for the financial year ended March 31, 2026, with a net worth of negative Rs 0.01 crore. Lodha Developers expects to complete the transfer of shares before August 31, 2026.
The buyers are designated unit holders of the premises and none belong to the promoter, promoter group, or group companies. The transaction does not fall under related party transactions and is not conducted under any scheme of arrangement.
Lodha Developers Limited, formerly known as Macrotech Developers Limited, stated the information is available on its website.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.