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Published Date : 26/02/2025
EFC (I), an integrated office infrastructure and design company, has taken a significant step by incorporating a new subsidiary, EFC Estate 710 Alpha, aimed at developing commercial real estate projects, including IT parks.
EFC (I), an integrated office infrastructure and design company, has taken a significant step by incorporating a new subsidiary, EFC Estate 710 Alpha, aimed at developing commercial real estate projects, including IT parks.
EFC (I), a leading integrated office infrastructure and design company, has expanded its reach by incorporating a new subsidiary, EFC Estate 710 Alpha, to focus on commercial real estate projects.
The company received the Certificate of Incorporation from the Ministry of Corporate Affairs on 24 February 2025.
The primary objective of this incorporation is to establish a strategic association for commercial real estate projects, including the development of IT parks.
This move aligns with EFC (I)'s existing business of providing serviced offices and other related services through its various subsidiaries.
The cost of acquisition for the new subsidiary is Rs 1,00,000, which represents 10,000 equity shares of Rs 10 each.
The initial subscription for EFC Estate 710 Alpha shares will be made in cash.
EFC Estate 710 Alpha is a related party of EFC (I), being a wholly-owned subsidiary, with EFC (I) holding 100% of the equity shares.
None of the promoters, promoter group, or group companies have any interest in EFC Estate 710 Alpha, except for Umesh Kumar Sahay, who acts as a nominee shareholder to meet regulatory requirements.
Additionally, Amit Narbaria and Nikhil Dilipbhai Bhuta serve as nominee directors representing EFC (I) on the board of EFC Estate 710 Alpha.
The subscription for equity shares in EFC Estate 710 Alpha will be conducted at arm's length, with each equity share valued at a face value of Rs 10.
This ensures transparency and fairness in the transaction.
EFC (I) is an integrated office infrastructure and design company with a strong presence in the market.
It operates 61+ centers with more than 50,500+ seats under management across seven states.
The company caters to 570+ highly reputed corporates, both Indian and global, offering high-quality working spaces and services.
This new subsidiary is expected to further strengthen EFC (I)'s position in the commercial real estate sector and enhance its portfolio of services.
Frequently Asked Questions (FAQS):
Frequently Asked Questions (FAQS):
Q: What is the primary objective of incorporating EFC Estate 710 Alpha?
A: The primary objective of incorporating EFC Estate 710 Alpha is to establish a strategic association for commercial real estate projects, including the development of IT parks, which align with EFC (I)'s existing business of providing serviced offices.
Q: How much is the cost of acquisition for EFC Estate 710 Alpha?
A: The cost of acquisition for EFC Estate 710 Alpha is Rs 1,00,000, representing 10,000 equity shares of Rs 10 each.
Q: Who are the nominee directors representing EFC (I) on the board of EFC Estate 710 Alpha?
A: Amit Narbaria and Nikhil Dilipbhai Bhuta serve as nominee directors representing EFC (I) on the board of EFC Estate 710 Alpha.
Q: What is the role of Umesh Kumar Sahay in EFC Estate 710 Alpha?
A: Umesh Kumar Sahay acts as a nominee shareholder in EFC Estate 710 Alpha to meet regulatory requirements.
Q: How many centers does EFC (I) currently operate?
A: EFC (I) currently operates 61+ centers with more than 50,500+ seats under management across seven states.
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