EFC (I) Takes a Leap in Commercial Real Estate with New Subsidiary
EFC (I), a leading integrated office infrastructure and design company, has incorporated a new subsidiary, EFC Estate 710 Alpha, to focus on commercial real estate projects, including IT park developments.
Commercial Real EstateEfc IIt ParksServiced OfficesReal Estate ProjectsReal EstateFeb 25, 2025
The company received the Certificate of Incorporation from the Ministry of Corporate Affairs on 24 February 2025.
The primary objective of this incorporation is to establish a strategic association for commercial real estate projects, particularly IT park developments.
This move aligns seamlessly with the business of serviced offices provided by EFC (I) 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, ensuring a robust financial foundation for the new venture.
EFC Estate 710 Alpha is a related party of EFC (I), being a wholly-owned subsidiary.
EFC (I) holds 100% of the equity shares in this new entity.
While none of the promoters, promoter group, or group companies have any interest in EFC Estate 710 Alpha, Umesh Kumar Sahay 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.
This transparent and fair approach ensures that the new subsidiary operates with the highest standards of governance and accountability.
EFC (I) is an integrated office infrastructure and design company with a strong presence across India.
The company manages 61+ centers with over 50,500+ seats under management across seven states.
EFC (I) caters to 570+ highly reputed corporates, both Indian and global, offering high-quality working spaces.
The incorporation of EFC Estate 710 Alpha is expected to further enhance EFC (I)'s capabilities in the commercial real estate sector and solidify its position as a leading provider of serviced offices and integrated office solutions.
This strategic move by EFC (I) underscores its commitment to expanding its footprint in the commercial real estate market while maintaining its focus on delivering exceptional services to its clients.
The company's robust financial position and experienced leadership team will be instrumental in the success of EFC Estate 710 Alpha and its future projects.
Frequently Asked Questions
What is the primary objective of incorporating EFC Estate 710 Alpha?
The primary objective is to establish a strategic association for commercial real estate projects, particularly IT park developments, which align with EFC (I)'s business of serviced offices.
How much did EFC (I) invest in the new subsidiary?
EFC (I) invested Rs 1,00,000, representing 10,000 equity shares of Rs 10 each, in the new subsidiary EFC Estate 710 Alpha.
What is the role of EFC Estate 710 Alpha in relation to EFC (I)?
EFC Estate 710 Alpha is a wholly-owned subsidiary of EFC (I) and is a related party. EFC (I) holds 100% of the equity shares in this new entity.
Who are the nominee directors representing EFC (I) on the board of EFC Estate 710 Alpha?
Amit Narbaria and Nikhil Dilipbhai Bhuta serve as nominee directors representing EFC (I) on the board of EFC Estate 710 Alpha.
What is the total number of centers and seats managed by EFC (I)?
EFC (I) manages 61+ centers with over 50,500+ seats under management across seven states.
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