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(13 Mar 2025, 19:12)

Board of Kolte Patil Developers approves execution of SSA, SPA and SHA

At meeting held on 13 March 2025


The Board of Kolte Patil Developers at its meeting held on 13 March 2025 has approved the Execution of the following transaction documents:

(i) Share Subscription Agreement between the Company, BREP Asia III India Holding Co VII Pte. (Acquirer) and Rajesh Anirudha Patil, Naresh Anirudha Patil, Milind Digambar Kolte, Yashvardhan Rajesh Patil and Harshavardhan Naresh Patil (Promoters) in relation to the Preferential Issue of the Subscription Shares to the Acquirer on the terms and conditions contained therein;

(ii) Share Purchase Agreement between the Acquirer, the Company and Rajesh Anirudha Patil, Naresh Anirudha Patil, Milind Digambar Kolte, Sunita Rajesh Patil, Vandana Naresh Patil, Sunita Milind Kolte, Yashvardhan Rajesh Patil, Ankita Rajesh Patil, Harshavardhan Naresh Patil, and Priyanjali Naresh Patil (Sellers) for the Acquirer to acquire from the Sellers equity shares constituting 25.7%  of the paid-up post-issue equity share capital of the Company on the terms and conditions contained therein; and 

(iii) Shareholders' Agreement between the Acquirer, the Company and the Sellers (Existing Promoter Group) to record the terms and conditions governing the inter-se rights and obligations of the Acquirer and the Existing Promoter Group as shareholders of the Company including in relation to the management and governance of the Company (Shareholders' Agreement).


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