EFC (I) Limited has scheduled a board meeting for August 18, 2026, to evaluate a proposal for issuing equity shares through a preferential issue on a private placement basis. According to the latest disclosure, this corporate action is linked to the planned acquisition of Ultrafresh Modular Solutions Limited and will require shareholder approval via extraordinary general meeting or postal ballot. The company stated that this action is subject to necessary regulatory and statutory approvals, including shareholder consent. The trading window for designated persons and their immediate relatives remains closed from August 13, 2026, and will reopen only after the expiry of forty-eight hours following the board meeting outcome.
EFC (I) has entered into a Share Acquisition Agreement to acquire 100% equity stake in Ultrafresh Modular Solutions, with the transaction valued at ₹54 crore. According to the latest disclosures, TTK Prestige sold its 51% controlling stake for ₹27.54 crore through a share swap mechanism, while EFC (I) simultaneously acquired the remaining 49% equity from other shareholders. The agreements were disclosed on August 13, 2026, under Regulation 29 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The complete ownership transfer is scheduled for completion by October 31, 2026, subject to fulfillment of conditions precedent.
Ultrafresh is a 51% subsidiary of TTK Prestige and operates as an established player in India's modular home solutions segment. The company specializes in modular kitchens, wardrobes and customized modular furniture, following an integrated approach encompassing design, manufacturing, supply and installation. For FY26, Ultrafresh reported a turnover of ₹36.3 crore, which constituted 1.2% of TTK Prestige's consolidated turnover. The brand maintains a negative net worth of ₹16.66 crore as of March 31, 2026, representing 0.8% of TTK's consolidated net worth, indicating accumulated losses over its operational history since incorporation in December 1992.
Ultrafresh owns a manufacturing plant at Nalagarh, Himachal Pradesh, providing the company with in-house production capabilities for its modular furniture products. This manufacturing facility supports the company's integrated business model across the entire value chain from design to installation. The acquisition provides strategic access to North India through Ultrafresh's existing factory and warehouse presence, enhancing EFC's geographical footprint in the organized modular home solutions market.
EFC (I) Limited, a publicly listed company engaged in Managed Office Solutions, Design & Build turnkey solutions, and furniture manufacturing, aims to expand its presence in the organized modular home solutions market through this acquisition. According to Mr. Umesh Sahay, Chairman & Managing Director of EFC (I), the acquisition strengthens their established furniture manufacturing and Design & Build businesses while adding a strong modular solutions platform to their portfolio. The share swap mechanism ensures that TTK Prestige and other shareholders receive fresh equity shares of EFC (I) instead of cash, with the share swap ratio determined based on an independent valuation report as per the Share Acquisition Agreement.
