Lodha Developers Limited — M&A Activity 2025

Aug 11, 2025

August 11, 2025

BSE Limited Scrip Code: 543287 Debt Segment – 975115, 975192, 975560, 976262, 976764, 976895, 976923

National Stock Exchange of India Limited Trading Symbol: LODHA

Dear Sirs,

Sub: Update on Scheme of Merger by Absorption of Roselabs Finance Limited, National Standard (India) Limited, Sanathnagar Enterprises Limited with Lodha Developers Limited .

Ref: Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (‘Listing Regulations’)

We refer to our previous intimation dated July 30, 2024 with respect to the Scheme where the Board of Directors (‘the Board’) of the Company, based on the recommendation of the Audit Committee and the Committee of the Independent Directors had considered and approved the Scheme of Merger by Absorption of its three listed subsidiaries viz Roselabs Finance Limited (“RFL”), National Standard (India) Limited (‘NSIL’) and Sanathnagar Enterprises Limited (‘SEL’) (RFL, NSIL and SEL together referred to as ‘Transferor Companies’) with Lodha Developers Limited (‘Transferee Company’ or ‘the Company’ or ‘LDL’) (‘the Scheme’).

Basis the management’s discussions and deliberations with various stakeholders with respect to the Scheme, the Board of Directors at its meeting held today, approved the decision to modify the existing Scheme by excluding Sanathnagar Enterprises Limited from this Scheme.

Exclusion of SEL from the Proposed Scheme does not affect or impact the shareholders and debenture holders of the Company in any manner whatsoever. The valuation and share exchange ratios for each were determined separately by the registered valuer. Neither NSIL nor RFL have any material business or future business plan as their development projects were completed few years back. This amendment does not affect the previously determined share exchange ratio for NSIL and RFL. Accordingly, the share exchange ratio specified in the valuation report provided by Bansi S. Mehta Valuers LLP and fairness opinion provided by Kotak Mahindra Capital Company Limited on July 30, 2024 remain unaffected, as provided under an addendum dated August 11, 2025, issued by the aforementioned Valuer and confirmed by Merchant Banker.

The Scheme is subject to the receipt of approval from the shareholders and creditors of the respective companies, the Hon’ble National Company Law Tribunal, Stock Exchanges and such other approvals, permissions and sanctions as may be necessary.

The meeting of Board of Directors of the Company commenced at 6:25 P.M. and concluded at 6:40 P.M.

Kindly take the above information on your record.

Thanking you,

Yours faithfully, For Lodha Developers Limited (Formerly known as Macrotech Developers Limited)

SANJYOT Digitally signed by SANJYOT NILESH NILESH RANGNEKAR RANGNEKAR Date: 2025.08.11 19:16:54 +05'30' Sanjyot Rangnekar Company Secretary & Compliance Officer Membership No. F4154