Main Disclosure – Disinvestment Details
Target Entity: Pincott International Pty Limited, Australia (a non-material inoperative wholly owned subsidiary)
Percentage Stake Disinvested: 100% stake closure through deregistration (complete closure of subsidiary)
Post-Transaction Holding: 0% (complete deregistration)
Counterparty/Buyer: Not applicable (voluntary deregistration, not a sale transaction)
Mode of Consideration: Nil consideration. The voluntary closure by way of deregistration does not involve any sale consideration.
Valuation or Price Basis: Not applicable
Rationale for Disinvestment: Strategic simplification through closure of a non-material, inoperative subsidiary
Impact on the Company:
- Removal of subsidiary with negative net worth of INR (60.76) million as of 31.03.2026
- Elimination of subsidiary that contributed 0.00% to turnover
- Reduction in administrative burden of maintaining inactive international entity
Business Profile of Target Entity:
- Location: Australia
- Status: Non-material, inoperative wholly owned subsidiary
- Financial performance as of 31.03.2026:
- Turnover: Nil (0.00% of company total)
- Net worth: INR (60.76) million (-3.40% of company total)
Related Party Status: No. The transaction does not involve related parties.
Approvals Required: Approval from Australian Securities and Investments Commission (ASIC) for deregistration
Indicative Timeline:
- ASIC acknowledged receipt of application on 12th October 2026
- ASIC may deregister the subsidiary two months after notice publication
- Expected completion of closure process within 31st December 2026
Other Updates
No other disclosures are present in the document.