Corporate News
Nimbus Projects Limited informed the Bombay Stock Exchange and National Stock Exchange that it has incorporated a subsidiary company, IITL Nimbus The Hyde Park Private Limited, on October 8, 2026, following approval from the Ministry of Corporate Affairs. The subsidiary, which continues the business of construction and real estate development, has an authorized share capital of Rs 50,00,000 and a paid-up capital of Rs 25,00,000, with Nimbus Projects Limited holding 2,50,000 equity shares, representing 66.66%, and Mr. Bipin Agarwal, Managing Director and promoter of Nimbus Projects Limited, holding the remaining 1,25,000 equity shares, or 33.37%. The company stated that the capital contribution of Rs 25,00,000 held by Nimbus Projects Limited in the previous partnership firm was converted into equity shares in the newly incorporated entity, and the transaction was conducted on an “arm’s length” basis.