Embassy Developments Ltd. sold its wholly-owned subsidiary Sepset Real Estate Ltd., owner of Jodhpur's 'Mega Mall', to Pen India Ltd. for ₹100 crore.
The divestment is part of the company's active portfolio management strategy to unlock value and strengthen its balance sheet.
Sepset contributed 0.85% of consolidated turnover but had a negative net worth of (-)₹114.07 crore in FY25.
The transaction is expected to be completed within 60 days and is not a related party transaction.