Max Estates, the wholly owned subsidiary of Max Ventures and Industries has executed Share Purchase Agreement(s) on September 6, 2022 for acquisition of the 100% equity share capital of Acreage Builders (CIN: U70101HR2010PTC047012) in one or more tranches.
The reason to acquire Acreage Builders is to use its asset i.e. a 6.24 acre land with a license to develop commercial project over an area measuring 7.15 acres, located at Golf Course Extension Road, Gurugram. The potential leasable area of the commercial project is ~1.6 million sq. ft.
Post-acquisition, Acreage Builders will become a wholly owned subsidiary of Max Estates.
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