Kolte - Patil Developers Limited announced the receipt of a draft letter of offer from JM Financial Limited regarding an open offer by BREP Asia III India Holding Co VII Pte. Ltd. (the "Acquirer"), along with Blackstone Real Estate Partners Asia III L.P. ("PAC 1") and Blackstone Real Estate Partners (Offshore) X.TE -F (AIV) L.P. ("PAC 2").

Key details of the open offer:

• Acquirer: BREP Asia III India Holding Co VII Pte. Ltd.
• PACs: Blackstone Real Estate Partners Asia III L.P. and Blackstone Real Estate Partners (Offshore) X.TE -F (AIV) L.P.
• Objective: Acquisition of up to 2,30,56,825 (two crore thirty lakh fifty six thousand eight hundred and twenty five) fully paid-up equity shares of face value INR 10 each, representing 26.00% of the emerging voting capital of Kolte-Patil Developers Limited.
• Offer Price: INR 329 per equity share.
• Underlying Transaction: The open offer is triggered by the proposed substantial acquisition of shares, voting rights, and control over the Target Company by the Acquirer and the PACs.

The Acquirer has entered into:

• A share purchase agreement (SPA) dated 13 Mar 25 with the Sellers and the Target Company to acquire 2,27,96,353 (two crore twenty seven lakh ninety six thousand three hundred and fifty three) equity shares, representing 25.71% of the emerging voting capital, at INR 329 per share, totaling INR 750.00 crores.
• A share subscription agreement (SSA) dated 13 Mar 25 with the Target Company and certain existing promoters for the issuance and allotment of 1,26,75,685 (one crore twenty six lakh seventy five thousand six hundred and eighty five) equity shares, representing 14.29% of the emerging voting capital, to the Acquirer via preferential allotment at INR 329 per share, aggregating to INR 417.03 crores.

Tentative Schedule of Major Activities:

• Date of the PA: 13 Mar 25
• Date of publication of the DPS in newspapers: 21 Mar 25
• Filing of this DLOF with SEBI: 28 Mar 25
• Last date for public announcement for competing offer(s): 16 Apr 25
• Last date for receipt of SEBI observations on the DLOF: 24 Apr 25
• Identified Date: 28 Apr 25
• Last date by which the Letter of Offer is to be dispatched: 6 May 25
• Last date for upward revision of the Offer Price and/or Offer Size: 9 May 25
• Last date for recommendation by the independent directors: 9 May 25
• Date of publication of Offer opening public announcement: 13 May 25
• Date of commencement of the tendering period (Offer Opening Date): 14 May 25
• Date of closure of the tendering period (Offer Closing Date): 27 May 25
• Last date of communicating the rejection/acceptance and completion of payment: 10 Jun 25
• Last date for publication of post-Offer public announcement: 17 Jun 25