Awfis Space Solutions Limited has officially announced an extension for the completion of the slump sale of its Design and Build Business Undertaking. Originally slated for completion by February 28, 2026, the Board has approved pushing the deadline to the end of the calendar year 2026 due to administrative and procedural requirements. The consideration for the sale will now be based on an updated valuation report dated the new completion date.
Extension for Business Undertaking Sale
In continuation of previous disclosures made following Board Meetings on November 11, 2025, and December 23, 2025, and the subsequent postal ballot on January 23, 2026, Awfis Space Solutions Limited has updated the timeline for its slump sale transaction.
The Board of Directors, following a meeting held on February 26, 2026, has approved extending the timeline for the transfer of the Design and Build Business (Business Undertaking). The revised expected completion date for this transaction is now the end of the calendar year 2026. This extension is necessitated by ongoing procedural, administrative, operational, and transition-related requirements.
Valuation and Operational Status
Until the revised closing date, the Company confirms it will continue to operate the undertaking in the ordinary course of business. Furthermore, the consideration payable for the Business Undertaking will be determined based on an updated valuation report. The reference date for this valuation will be the newly established revised completion date of the transaction.
Board Authorization
The Board has also authorized company officials to execute all necessary actions required to give effect to this extension, including making appropriate amendments to the existing Business Transfer Agreement.
Meeting Details
The Board Meeting where these approvals were granted commenced at 10:10 A.M. (IST) and concluded at 10:40 A.M. (IST) on the date of this disclosure.
Source: BSE
