The primary objective of this incorporation is to establish a strategic association for commercial real estate projects, including IT park developments, which align with the business of serviced offices provided by the company and its other subsidiaries.

The cost of acquisition for the new subsidiary is Rs 1,00,000, representing 10,000 equity shares of Rs 10 each. The initial subscription in 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.

EFC (I) is an integrated office infrastructure and design company. It has 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 names, in terms of offering high-quality working spaces.