Empire Mall Private Ltd, a step-down wholly-owned subsidiary of Mumbai-based Prozone Realty Limited, has acquired a 100% stake in Festivalvalley Developers Private Limited (FVDPL) for ₹1,00,000. According to reports from The Hindu BusinessLine, the transaction was completed on July 20, 2026, involving the purchase of 10,000 equity shares of FVDPL at ₹10 per share through cash consideration. No government or regulatory approvals were required for the deal.
As reported by The Hindu BusinessLine, FVDPL was incorporated on January 24, 2020, and is engaged in real estate construction and development. The company reported a net worth of negative ₹2,724.10 for FY 2025-26 and has posted nil turnover across the last three financial years. With this acquisition, FVDPL has become a step-down subsidiary of Prozone Realty.
According to The Hindu BusinessLine, Prozone Realty stated the acquisition aligns with its objective of expanding its business and related investments. The transaction is not classified as a related party transaction, indicating an arms-length transaction between the two entities.
As reported by The Hindu BusinessLine, Prozone Realty's stock traded lower on Wednesday, with shares priced at ₹42.14 on the NSE at around 1 PM, down 1.27% from the previous close of ₹42.68. Selling pressure dominated at 60.24% of total traded quantity. The stock has fallen over 26% year-to-date and is trading significantly below its 52-week high of ₹72.77 touched in October 2025, though it remains above its 52-week low of ₹38. The company's total market capitalisation stands at approximately ₹643 crore.
