"EFC India Ltd to Establish Subsidiary for Investments in Commercial Real Estate and IT Parks"

The Board of Directors of EFC (I) Limited ("the Company"), in a meeting held on Thursday, the 25th of April, 2024, approved a proposal to establish a wholly-owned subsidiary (WOS) to pursue strategic partnerships and investments in commercial real estate and IT park projects. The new entity, likely to be named "EFC Estate Private Limited" or another approved name, will be tasked with exploring and executing these strategic initiatives.

The primary objective of the subsidiary is to focus on commercial real estate projects and IT park projects, aligning with the business operations of EFC (I) Limited, which provides serviced office solutions. By establishing this new subsidiary, EFC aims to expand its footprint in the commercial real estate sector, taking advantage of potential growth opportunities and strategic partnerships in the industry.

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