Board Approval and Transaction Details

The Board of Directors of Asian Energy Services Limited, at its meeting held on 21st August, 2026, approved:

  • Strategic collaboration with Sadhav Shipping Limited for formation of a Joint Venture in AOSL Energy Services Limited
  • Sale/transfer of 26% of the equity share capital of AOSL to Sadhav Shipping Limited
  • The stake comprises 2,600 equity shares of ₹10 each
  • Total consideration: ₹26,000 (cash)

Purpose and Strategic Rationale

The joint venture is intended to:

  • Leverage complementary capabilities, technical expertise and resources of both companies
  • Jointly identify, explore and pursue business opportunities in marine and allied sectors
  • Specifically focus on serving the offshore oil and gas industry
  • Undertake projects arising from these opportunities
  • Combine respective strengths and capabilities to pursue opportunities in offshore oil and gas sector

Post-Transaction Ownership Structure

Upon completion of the sale:

  • Company's shareholding in AOSL will reduce from 100% to 74%
  • AOSL will cease to be a wholly owned subsidiary (WOS)
  • AOSL will continue as a subsidiary of Asian Energy Services Limited

Financial Impact Assessment

As per Annexure A disclosures:

  • AOSL Energy Services Limited turnover for FY2025-26: Nil
  • AOSL contribution to consolidated turnover of Asian Energy: 0%
  • Net-worth of AOSL as on March 31, 2026: ₹0.09 crore
  • AOSL net-worth as percentage of consolidated turnover: 0.02%

Transaction Timeline

  • Agreement expected to be entered on or before 30th September, 2026
  • Expected completion date: on or before 30th September, 2026

Counterparty Details

  • Buyer: Sadhav Shipping Limited
  • Sadhav Shipping does not belong to promoter/promoter group/group companies
  • Transaction does not qualify as related party transaction
  • Transaction is at arm's length

Filing Details

  • Filed with BSE Limited and National Stock Exchange of India Limited
  • Filed under SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
  • Signed by Shweta Jain, Company Secretary & Compliance Officer (Membership No.: 23368)