Prozone Realty Limited and its group company, Prozone Liberty International Limited, together with their wholly owned subsidiary, Kruti Developers Private Limited (collectively, the PRL Group), have made a strategic consolidation of equity stakes in three key Indian project companies – Alliance Mall Developers Co. Private Limited, Empire Mall Private Limited, and Hagwood Commercial Developers Private Limited. (collectively, the Material Subsidiaries), from offshore private equity Sellers for a deal size of approximately $32 million.

The transaction involved the acquisition of the entire equity stakes held by offshore private equity investors – Triangle Real Estate India Holdings Limited, Triangle Real Estate India Projects Limited, Triangle Real Estate India Investments Limited, Pearlscope Limited, and Nailsfield Limited (collectively, the “Sellers”) – in each of the Material Subsidiaries, thereby transitioning them into entities fully controlled by the PRL Group.

Economic Laws Practice (ELP) acted for the PRL Group on this transaction. The Firm served as legal counsel throughout the transaction's lifecycle, advising on the Indian legal and regulatory framework for secondary share transfers and foreign investor exits under the Companies Act, foreign exchange regulations, and listing law requirements.

The transaction was led by Suhail Nathani (Managing Partner) and Manendra Singh (Partner), with support from Tanvi Goyal (Associate Partner), Ambareen Khatri (Senior Associate) and Hetvi Parikh (Associate).

Prozone Realty Limited is a listed real estate developer and a pioneer in transforming India’s urban landscape through retail-led, large-format malls and mixed-use developments, including associated residential projects in Aurangabad, Coimbatore, and Nagpur.

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