Awfis Space Solutions Limited announced an extension for the slump sale of its Design and Build Business Undertaking. Due to ongoing procedural and administrative requirements, the completion timeline has been shifted from February 28, 2026, to the end of the calendar year 2026. The consideration for the sale will now be based on an updated valuation report dated to the revised completion date. The Board authorized necessary amendments to the Business Transfer Agreement.
Extension Granted for Business Slump Sale
In continuation of previous disclosures following Board Meetings held on November 11, 2025, and December 23, 2025, and the subsequent postal ballot on January 23, 2026, Awfis Space Solutions Limited has formally extended the timeline for the slump sale of its Design and Build Business Undertaking. The original expected completion date was February 28, 2026.
Revised Timeline and Valuation
The Board of Directors, in its meeting held on February 26, 2026, approved the extension, citing procedural, administrative, and transition-related requirements. The completion of the transfer is now expected by the end of calendar year 2026. Until the revised completion date, the Company will continue to operate the undertaking in the ordinary course of business.
Furthermore, the consideration for the sale will be determined based on an updated valuation report. The reference date for this valuation will correspond to the revised date of completion of the transaction, as per applicable laws.
Board Authorization
The Board also authorized company officials to take all necessary actions, including making appropriate amendments to the Business Transfer Agreement, to give effect to this decision. The Board Meeting commenced at 10:10 A.M. (IST) and concluded at 10:40 A.M. (IST) on the date of this disclosure.
Source: BSE
